A biochemist has developed a new drug which he claims is more effective in the treatment of a skin disorder than the existing drug. Using the existing drug only 30% of the people contracting this skin disorder recover completely. To test his claim, he administers this new drug to a sample of 300 people who have contracted this skin disorder. The biochemist determines that 140 patients in his sample show a complete recovery. Use alpha=5%.
H0?:_____________
Ha?:______________
Critical Value:__________________________
P Value:_______________________________
Conclusion:________________________
Can the biochemist conclude that his new drug is more effective than the existing drug in the treatment of this skin disorder?