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Use Bayes' theorem to find the indicated probability.
-3.6% of a population are infected with a certain disease. There is a test for the disease, however the test is not completely accurate. 95.3% of those who have the disease test positive. However 4.2% of those who do not have the disease also test positive (false positives) . A person is randomly selected and tested for the disease. What is the probability that the person has the disease given that the test result is positive?
Downward Pressure
Forces or factors that lead to a decrease in prices, wages, or other economic indicators.
European Union
A political and economic union of 27 European countries that are located primarily in Europe, aiming to promote peace, stability, and economic cooperation among its members.
Capital Mobility
The ease with which capital or investments can move across borders in response to differences in return or risk, impacting global trade and investment decisions.
Common Labor Laws
Laws that regulate the legal obligations between employers and workers, including wages, working hours, safety, and rights to organize.
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