Six Patients Were Each Given Four Different Pain Killers and Asked

question 41

Essay

Six patients were each given four different pain killers and asked to rate each pain killer's effectiveness in reducing pain on a scale of 1 to 10. A Friedman $\mathrm { F } _ { \mathrm { r } ^ { - } }$ test was performed on the results. A printout is shown below.

Friedman Test: Response versus Treatment blocked by Patient $$\mathrm { S } = 18.00 \mathrm { DF } = 3 \mathrm { P } = 0.000$$
$\begin{array} { l r r r } & & \text { Est } & \text { Sum of } \\ \text { Treatment } & \text { N } & \text { Median } & \text { Ranks } \\ 1 & 6 & 7.500 & 24.0 \\ 2 & 6 & 4.500 & 12.0 \\ 3 & 6 & 6.000 & 18.0 \\ 4 & 6 & 2.500 & 6.0 \end{array}$
Grand median $= 5.125$ Is there evidence that at least two of the treatment probability distributions differ in location? Explain.

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Definitions:

Immunization Strategies

Financial strategies used to shield a bond portfolio from the effects of interest rate fluctuations by balancing the duration of assets and liabilities.

Interest Rate Sensitivity

The degree to which the value of an investment, particularly fixed-income securities, changes in response to variations in interest rates.

Duration

A measure of the sensitivity of the price of a bond or a bond portfolio to changes in interest rates, usually expressed in years.

Interest-Rate Risk

The risk that an investment's value will change due to a change in the absolute level of interest rates, which can affect both debt and equity instruments.