Number of side effects for each brand

Assignment Help Accounting Basics
Reference no: EM13926829

Part I. Chi-Square Goodness of Fit Test (equal frequencies)

Four different brands of a pain medication used for chronic back ailments were tested to see if the number of side effects for each brand were the same. The table below lists the results of the reported number of side effects for each brand of pain medication.

Brand A
Brand B
Brand C
Brand D
23
17
33
11

[Hint: Be sure to watch the helper video available on the "Chi-Square Goodness-of-Fit test (equal frequencies)" before attempting this problem. Instructions for performing this test in STATDISK can be found in the Statdisk User Manual.]

Instructions
Answers

1. Use the Chi-Square Goodness-of-Fit test to see if there is a difference between the number of side effects from the different brands of medication. Use a significance level of .01.
Paste results here.

2. What are we trying to show here?
We are trying to check whether the side effects for all brands are same.
So, hypotheses to test the above objective are set as follows:
Null: The number of side effects of pain medicine are same for all four brands.

3. What is the p-value and what does it represent in the context of this problem?
From the output, the P-vlue = 0.0057
Since the P-value is less than the significance level, 0.01, reject the null hypotheses.

4. State in your own words what the results of this Goodness-of-fit test tells us.
Hence, it can be concluded that there is not sufficient evidence to support the claim that the number of side effects are not same for all medicines.

5. Repeat the above procedure using only Brands A, B, and D. Paste results here.

6. Do you get a different result?
Yes, the results in this case are completely different compared to previous conclusion.

In this case, the P-value is 0.1203 which is higher than the significance level. Therefore, do not reject the null hypothesis.
Hence, it can be concluded that there is sufficient evidence to support the claim that the number of side effects are same for all medicines

Reference no: EM13926829

Questions Cloud

Problem regarding the capital structure theory : 1. Capital Structure Theory in general assumes that: 2. Which of the following financial ratios is the best measure of the operating effectiveness of a firm's management?
Hypotheses to test the above objective : Four different brands of a pain medication used for chronic back ailments were tested to see if the number of side effects for each brand were the same. The table below lists the results of the reported number of side effects for each brand of pa..
How leveraged lease differ from nonleveraged financial lease : How does a leveraged lease differ from a nonleveraged financial lease? What type of firm or organization is most likely to take advantage of the leveraged lease financing option?
What is web technology : What is Web Technology? Define and provide two examples of web technology and where it has been implemented.
Number of side effects for each brand : Four different brands of a pain medication used for chronic back ailments were tested to see if the number of side effects for each brand were the same. The table below lists the results of the reported number of side effects for each brand of pa..
How can leasing allow a firm to effectively depreciate land : How can leasing allow a firm to effectively "depreciate" land? What effect does leasing have on the stability of a firm's reported earnings?
Show that a tree without a vertex of degree : Prove Theorem 1.5.1. Theorem 1.5.1. The following assertions are equivalent for a graph T: Show that every tree T has at least ?(T) leaves.Show that a tree without a vertex of degree 2 has more leaves than other vertices. Can you find a very short pr..
Category of cabling-best practice for a telephone cable : What category of UTP cabling is the minimum for a telephone cable? What category of cabling should be installed as a best practice for a telephone cable?
Ratings and comments from customers : When new product ideas are chosen based on ratings and comments from customers, this process is called ______.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the reorder point for denim cloth

The Denim World sells fabrics to a wide range of industrial and consumer users. One of the products it carries is denim cloth, used in the manufacture of jeans and carrying bags.

  To what extent if any should store employees - many of whom

to what extent if any should store employees - many of whom will be university students working part-time - be

  Mcgann corporation is developing standards for its products

mcgann corporation is developing standards for its products. each unit of output of the product requires .50 kilogram

  At the beginning of 2013 pitman co purchased an asset for

at the beginning of 2013 pitman co. purchased an asset for 900000 with an estimated useful life of 5 years and an

  Calculate requirement of working capital management

How to calculate requirement of working capital management?

  A bond was issued for 720000 of 11 ten-year bonds for

a bond was issued for 720000 of 11 ten-year bonds for 678852 yielding an effective interest rate of 12. semi annual

  Determine the administrative costs calculated

Determine the administrative costs calculated to each operating department.

  What is the difference between creative analysis

What is the difference between creative analysis and critical analysis?

  The company must maintain a minimum cash balance of 25000 a

the following information is used for luckys inc.s monthly master budget. junes balance sheet

  What value can management derive from a balance scorecard

what value can management derive from a balance scorecard? how does the management accountant

  The alford group had 202000 shares of common stock

the alford group had 202000 shares of common stock outstanding at january 1 2011. the following activities affected

  Net income in calculating net cash flow

Which of the following should be deducted from net income in calculating net cash flow from operating activities using the indirect method?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd