A team of researchers have developed a new weight loss drug. They want to know i

Question

A team of researchers have developed a new weight loss drug. They want to know if patients who use the new drug for two weeks lose any weight. The drug has some minor side effects including mild headaches and achiness. If the researchers obtain evidence of weight loss they will proceed to produce the drug commercially and sell it for a large profit. If they do not obtain evidence of weight loss they will end the project. [70 points]

Assume that the research team completes this study with a sample size of n=100 and finds md = 0.785 pound with a standard deviation of 4.142 pounds. Their p-value is 0.0305. Alpha level 0.10.

F. Using the alpha level you selected in part E, are their results statistically significant? Explain why or why not.

G. Are their results practically significant? Explain why or why not.

Explanation / Answer

F) P value= 0.0305 and alpha= 0.1

Since P value is smaller than alpha and therefore it is significant.

Yes, their results are statistically significant because P value is significant at 0.05 level of significance.

G) Let me eplain you something little bit .Statistical significance is concerned with whether a research result is due to chance or sampling error.variability; practical significance is concerned with whether the result is useful in the real world.

Since the drug has some minor side effects including mild headaches and achiness which is not good for patients also there are lots of other factors for weight loss or weight gain like eating habit, doing exercise etc .So their results are not pratically significant.

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