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:

GAAP

Generally Accepted Accounting Principles, which are a collection of commonly-followed accounting rules and standards for financial reporting.

Research and Development

The investigative activities a business conducts to improve existing products and procedures or to lead to the development of new products and procedures.

Write-down

An accounting procedure reducing the book value of an asset when its market value drops below the recorded cost, resulting in a non-cash expense.

Impaired Asset

An asset that has a market value less than its carrying value on the balance sheet, indicating that it may not generate future benefits worth its listed value.