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Discuss the role of human judgment in forensic identification techniques like DNA and fingerprint matching. Illustrate how it increases the potential for errors.
Opportunity Cost
The receipts from the next most valuable forgone alternative when making a decision or choice among many options.
Opportunity Cost
The value of the best alternative foregone where a choice needs to be made between several mutually exclusive alternatives.
Present Value
The current worth of a future sum of money or stream of cash flows given a specified rate of return.
Future Value
Value of cash flows at a future date, taking into account interest accumulated between when the cash flow occurred and the future date.
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