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Old with new drug

If the alternative hypothesis is that an experimental ‘new’ drug would produce better results when compared to an established drug for treating a disease with no previously known cure, which do you think would be worse: the pharmaceutical company makes a Type I error or a Type II error? Why? Describe in words what each of these errors would mean when comparing the ‘old’ drug with the ‘new’ drug. Justify your response. Be specific in your reply.

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