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Biotech / Medical : GUMM - Eliminate the Common Cold
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From: StockDung10/25/2012 6:11:11 PM
1 Recommendation   of 5582
 
Because it’s so easy. Statistical insiders know it’s crud, but so what? There’s no cost to this lying with statistics.

Until now perhaps. The United States Supreme Court, recently rejected the claim by Matrixx Initiatives that it wasn’t required to report side effects of Zicam, because of a lack of statistical significance. The Court sided with science saying “medical professionals and regulators act on the basis of evidence of causation that is not statistically significant“.

In other words, statistical significance, or the lack of it, is not the same thing as a scientific finding and, therefore, not a defense for anything. This rightly opens the door for lawsuits against those who lie to people by selling statistical significance as practical importance.

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