A researcher randomizes 500 coronary artery disease (CAD) patients to either Medicine A or Medicine B. The outcome of interest is myocardial infarction (MI). In the statistical section of the published paper, the researcher writes that alpha was set at 0.05 and 500 patients were required to achieve 80% power to detect a difference of 10% or more between the two study arms. The researcher reports that 20% of the patients on Medicine A had an MI while 5% of patients on Medicine B had an MI with p = 0.03.
a) Is the study result statistically significant?
b) Write a sentence that interprets the p value of 0.03 in relation to the study results. Use 0.03 in your sentence