Reference no: EM131874199

A group of 8 patients was given a test medication that was touted as a breakthrough for high cholesterol. The cholesterol levels of the 8 participants were measured at the beginning of the study (before the medication was administered) and again 6 months into the medication regimen. The following cholesterol levels were recorded: Patient 1 2 3 4 5 6 7 8 Before 205 220 198 240 238 225 220 215 After 202 205 190 222 228 218 218 200 From this data, at the 1% significance level, can you conclude that the cholesterol medication was effective at lowering cholesterol levels? Why would we choose a 1% significance level rather than a 5% (or some other) significance level?