Suppose the Probability That an Individual Has a Particular Medical

question 58

Short Answer

Suppose the probability that an individual has a particular medical condition is .10.Tests of an individual's DNA can determine whether they have this medical condition but with only an 85 percent accuracy rate (that is,if the condition is present,the probability that the DNA test will give a positive finding is .85).If the medical condition is not present,the probability of the DNA test saying the medical condition exists is 0.03.What is the probability that the medical condition is present if the DNA test comes back positive?

---

Definitions:

Shiller Real Home Price Index

An index that tracks changes in the price of residential real estate in the United States, adjusted for inflation, developed by economist Robert Shiller.

Holt-Winters

A forecasting method that addresses seasonality by applying exponential smoothing to both the level and the trend of the data.

Qualitative Methods

Research techniques that collect data that is not in numerical form such as interviews, observations, and textual analysis.