There is an interesting article in today's Wall Street Journal on the
use of the Wald interval in clinical trials.
"Boston Scientific Stent Study Flawed" by Keith Winstein, August 14,
2008; Page B1.
"But Boston Scientific's claim was based on a flawed statistical
equation that favored the Liberte stent, a Journal analysis has found.
Using a number of other methods of calculation -- including 14
available in off-the-shelf software programs -- the Liberte study
would have been a failure by the common standards of statistical
significance in research.
Boston Scientific isn't the only company to use the equation, known as
a Wald interval, which has long been criticized by statisticians for
exaggerating the certainty of research results. "
http://digg.com/business_finance/WSJ_com_Boston_Scientific_Stent_Study_Flawed
Scott
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