A company\'s old formula provided relief for 87% of the people who used it. The

Question

A company's old formula provided relief for 87% of the people who used it. The company test a new formula to see if it is better, and gets a P-value of 0.498. Is it reasonable to conclude that the new formula and the old one are equally effective? Explain. O It is not reasonable to conclude that the new formula and the old one are equally effective. There is a 49.8% chance the new formula is better than the old one. O Since the P-value is greater than 0.05, it seems that the new formula is more effective than the old one. Since the P-value is greater than 0.05, it seems that the new formula is equally effective as the old one. O It is not reasonable to conclude that the new formula and the old one are equally effective. The P- value cannot suggest a conclusion.

Explanation / Answer

Given that, p-value of a test is 0.498

Here, p-value = 0.498 > 0.05

Therefore coclusion is

since the P-value is greater than 0.05, it seems that the new formula is equally effective as the old one.

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