Find the Indicated Probability What Is the Probability That a Randomly Selected Person Was

question 221

Multiple Choice

Find the indicated probability.
-The following table show the results of a clinical trial for an allergy drug. $$\begin{array} { l | c | c | c | c } & \begin{array} { c } \text { Allergy } \\\text { drug }\end{array} & \text { Placebo } & \begin{array} { c } \text { Control } \\\text { (no treatment) }\end{array} & \text { Total } \\\hline \text { Improvement } & 145 & 85 & 41 & 271 \\\text { No improvement } & 55 & 115 & 59 & 229 \\\text { Total } & 200 & 200 & 100 & 500\end{array}$$ What is the probability that a randomly selected person was given a placebo or improved? Round your answer to the nearest thousandth when necessary.

• A)0.942
• B)0.17
• C)0.69
• D)0.772

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Definitions:

Black Market

An illegal trade of goods or services that are not sanctioned by the authority, often to avoid taxes or because the goods are prohibited.

Gray Market

involves the trade of legal goods through unauthorized, unofficial, or unintended channels, usually not illegal but discouraged by manufacturers.

Resource Market

The marketplace where resources or inputs (like labor, capital, and raw materials) used to produce goods and services are bought and sold.

Excess Burden

Refers to the cost to society created by market inefficiency, which occurs when supply and demand are out of equilibrium.