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A researcher performs an experiment to determine if a new drug lowers blood pressure. After analyzing the data, a p-value of 0.04 is reported.
Which of the following is the most accurate interpretation of this finding?
- The drug lowers blood pressure by a clinically significant amount in 4% of the population.
- There is a 4% probability that the observed difference occurred by chance assuming the drug has no effect.
- There is a 96% probability that the drug is effective in lowering blood pressure.
- The probability of making a Type II error in this specific study is exactly 0.04.
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