Class 13: Cookie Experiment I


In her book Tainted Truth (Simon and Schuster, 1994), Cynthia Crossen quotes Robert Pitofsky (former head of the Federal Trade Comission's Bureau of Consumer Products): "In markets where product claims are viewed with utter suspicion high price is adopted as an indication of quality, and price competition and product improvement become economically irrational."
We want to know if there is a correlation between price and quality for chocolate chip cookies. Design an experiment to find out. Decide on as many details as you can, including: how many brands of cookies will be used and how quality and price will be measured. We will carry out experiments on Wednesday.

Homework for Monday, March 11

Read Chapters 9 and 10 of FPPA. Do review exercises 2, 3, 4, 6, 8, 10, 13 at the end of Chapter 9 and review exercises 2, 4, 5, 6, 8 at the end of Chapter 10.

Journal Assignment

Browse the current issue of Chance News (Feb. 4 to Feb 29) on the Web. Pick an article summary that you particularly like, find and read the article, and answer the discussion questions. (We can help you use Lexis Nexis to locate an article if there is no link to it on the Web. The reference librarians at Firestone can also show you how to do this.)