A new drug for pain relief has potential for increasing your new company\'s reve

Question

A new drug for pain relief has potential for increasing your new company's revenue enormously. Then you receive the following information from a clinical trial. The primary group taking your drug is 45-54 year old men, and the heart attack rate is 20% in a sample of 25 men in this age group in your clinical trial. A) Give a 95% percent confidence interval to for the proportion of men having heart attacks. B) Does this confidence interval include the value 1.5% (annual heart attack rate for men in this age group?) C) Assuming the heart attack rate for men is larger than woman what is the maximum sample size needed to get a 99% confidence interval for the proportion having heart attacks within+/-0.01.

Explanation / Answer

a.
Confidence Interval For Proportion
CI = p ± Z a/2 Sqrt(p*(1-p)/n)))
x = Mean
n = Sample Size
a = 1 - (Confidence Level/100)
Za/2 = Z-table value
CI = Confidence Interval
No. of success(x)=5
Sample Size(n)=25
Sample proportion = x/n =0.2
Confidence Interval = [ 0.2 ±Z a/2 ( Sqrt ( 0.2*0.8) /25)]
= [ 0.2 - 1.96* Sqrt(0.006) , 0.2 + 1.96* Sqrt(0.006) ]
= [ 0.043,0.357]
b.
yes it includes the value 1.5%

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