Use the Traditional Method to Test the Given Hypothesis

question 47

Essay

Use the traditional method to test the given hypothesis. Assume that the samples are independent and that they have been randomly selected
-7 of 8,500 people vaccinated against a certain disease later developed the disease. 18 of 10,000 people vaccinated with a placebo later developed the disease. Test the claim that the vaccine is effective in lowering the incidence of the disease. Use a significance level of 0.02.

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Definitions:

Withdrawals

Money taken out from a business by its owners for personal use or from an account by the account holder.

Rate of Return

Rate of return refers to the profit or loss achieved from an investment during a specific time frame, represented as a percentage of the investment's original price.

Interest Rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage.

Principle

The original amount of money invested or loaned, before interest is added.