The Data in the Following Table Show the Outcomes of the Testing

question 36

Multiple Choice

The data in the following table show the outcomes of the testing of an allergy drug on 500 people. $$\begin{array} { l | c | c | c | c } & \begin{array} { c } \text { Allergy } \\\text { drug }\end{array} & \text { Placebo } & \begin{array} { c } \text { Control } \\\text { (no treatment) }\end{array} & \text { Total } \\\hline \text { Improvement } & 145 & 85 & 41 & 271 \\\text { No improvement } & 55 & 115 & 59 & 229 \\\text { Total } & 200 & 200 & 100 & 500\end{array}$$
-What is the probability that a randomly selected person either was given the allergy drug and improved?

• A)0.652
• B)0.942
• C)0.625
• D)0.29

Understand the principles and applications of inventory control systems.

Analyze and apply the concept of breakeven analysis in different contexts.

Describe the role of balanced scorecards in enhancing organizational performance.

Calculate and interpret financial ratios to assess organizational financial health.

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Definitions:

Opportunity Cost

Dismissing potential benefits from other possible choices by focusing on one.

Scarce Resources

Natural or human resources that are limited in supply and cannot fulfill all wants and needs due to their finite availability.

Free Lunch

An idiom expressing the idea that it is impossible to get something for nothing; in economics, it refers to the impossibility of getting a benefit without a cost.

Scarce

Limited in availability relative to the demand.