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A pharmaceutical company created a drug that is supposed to lower the risk of heart disease. After a series of clinical trials on 5 patients
A pharmaceutical company created a drug that is supposed to lower the risk of heart disease. After a series of clinical trials on 5 patients it was determined that it lowers the risk of heart disease by 50% and the cost of production is 4 dollars per dose. Using methods of statistics it can be shown that this result is likely to happen due to chance even if the drug has no effect.
Do the drug trials have statistical significance? Yes or No
Do drug trials have practical significance? Yes or No
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