For Questions , Use the Following Narrative

question 24

Essay

For Questions , use the following narrative
Narrative: Side effects
Suppose in a large study investigating side effects of a new drug, it was found that the relative risk of having bad side effects from the new drug (compared to placebo) is 1.3 (with a 95% confidence interval of 1.1 to 1.8).This compares to the relative risk of having bad side effects from the standard drug (compared to placebo), which was found to be 3.4 (with a 95% confidence interval of 1.7 to 7.0), based on large sample results.
-{Side effects narrative} Explain, in words a non-statistics student would understand, what the first confidence interval in this example means.

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Definitions:

Certificate Of Deposit

A savings certificate entitling the bearer to receive interest, representing a time deposit with a bank or financial institution that has a fixed maturity date.

Time Deposit

A bank deposit with a fixed term or period of maturity, often offering higher interest rates than regular savings accounts.

Maturity

The time at which a financial obligation is due to be paid or a financial instrument, such as a bond, reaches its final installment.

Negotiable Instruments

Negotiable instruments are financial documents that promise payment to the holder and are freely transferable, such as checks, promissory notes, and bills of exchange.