Data Science Drug Approval Process Discussion Post
Use the link below to access the RShiny lab. This week, you will use the R programming language to simulate the drug approval process as outlined by Wheelan in Naked Statistics(Ch 5).
Use the discussion forum link on the next page to answer the following:
Would you make the 1 million dollar investment discussed in this week’s lab? Explain your thought process and how it is related to both expected value and probability. Why might some drug companies be more incentivized to make this investment than others? (hint: think about sampling variability and the law of large numbers).