Developing a new drug can be an expensiveprocess, resulting in high costs to patients. A pharmaceutical company has developed a new drug to reducecholesterol, and it will conduct a clinical trial to compare the effectiveness to the most widely used current treatment. The results will be analyzed using a hypothesis test. Complete parts a and b below.

a) If the test yields a low P-value and the researcher rejects the null hypothesis that the new drug is not more effective, but it actually is not better, what are the consequences of such an error? Select all that apply. A. The company will lose potential revenue from selling the drug. OB. People will pay more money for a drug that is no better than the most widely used current treatment. [ C. People will miss an opportunity to use a more effective treatment for cholesterol. OD. The company may lose some of its reputation for reliable quality and honest advertising. b) If the test yields a high P-value and the researcher fails to reject the null hypothesis, but the new drug is more effective, what are the consequences of such an error? Select all that apply. A. Other pharmaceutical companies will lose potential revenue due to competition with this pharmaceutical company. OB. The company will lose potential revenue from selling the drug. [C. People will miss an opportunity to use a more effective treatment for cholesterol. OD. People will pay more money for a drug that is no better than the most widely used current treatment