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It is believed that large doses of acetaminophen (the active ingredient in over the counter pain relievers like Tylenol) may cause damage to the liver.
- It is believed that large doses of acetaminophen (the active ingredient in over the counter pain relievers like Tylenol) may cause damage to the liver. A researcher wants to conduct a study to estimate the proportion of acetaminophen users who have liver damage. For participating in this study, he will pay each subject $20 and provide a free medical consultation if the patient has liver damage.If he wants to limit the margin of error of his 98% confidence interval to 2%, what is the minimum amount of money he needs to set aside to pay his subjects?
- The amount you calculated in part (a) is substantially over his budget so he decides to use fewer subjects. How will this affect the width of his confidence interval?
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