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In the late 1800s,Louis Pasteur was searching for a vaccine for anthrax in livestock.One French veterinarian had a local reputation for being able to cure anthrax by applying oils and wrapping the animal in cloth to induce a fever.Pasteur also knew that some animals got well on their own when left untreated.Pasteur tested the effectiveness of the local veterinarian's methods by injecting four cattle with anthrax bacteria.He then directed the veterinarian to perform his procedures on two cattle.The other two cattle were left alone.What is the rationale for Pasteur's experimental design?
Parameters
Statistical or mathematical conditions and variables that define the scope and functioning of a model, equation, or procedure.
Level of Significance
A threshold in hypothesis testing that determines the probability at which the null hypothesis is rejected.
Type I Error
The incorrect rejection of a true null hypothesis, also known as a "false positive," indicating a test's incorrect indication of a significant effect.
Available-For-Sale Securities
Financial assets that are neither classified as held for trading nor held to maturity, and are recorded at fair value with unrealized gains or losses reported in other comprehensive income.
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