What Would the FDA Do to Expedite Drug Development and Approval

question 2

Multiple Choice

What would the FDA do to expedite drug development and approval for an outbreak of smallpox,for which there is no known treatment?

• A) List smallpox as a health orphan disease.
• B) Omit the preclinical research phase.
• C) Extend the clinical research phase.
• D) Fast track the investigational drug.

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Definitions:

Forecast Error

The difference between the actual demand and the forecasted demand, highlighting inaccuracies in demand planning.

Forecast Error

The variance between what actually happens and the forecasts from prediction models.

Expected Value

Expected value is a concept in probability that calculates the average outcome when the future involves scenarios that may or may not happen.

Moving Average Forecast

A method used in time series analysis to smooth out short-term fluctuations and highlight longer-term trends or cycles.