Judge Diaz Must Decide a Case Regarding the Medicare Part

question 15

Multiple Choice

Judge Diaz must decide a case regarding the Medicare Part D regulations (the prescription drug benefit) . She reads the regulation in question carefully, focusing closely on the literal language of the provision, and applies her interpretation to the case. She is turning to ____.

• A)a textualist approach
• B)administrative history
• C)canons of statutory interpretation
• D)application of precedent

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Definitions:

Project's NPV

Net Present Value; a financial metric used to evaluate the profitability of an investment or project, calculated by discounting the expected cash flows to their present value and subtracting the initial investment.

Decision Tree Analysis

A tool used in decision making to visually map out possible outcomes of a decision, factoring in probabilities and costs or benefits.

NPV Distribution

Refers to the distribution of net present values across different potential investments or projects.

Conditional Probability

The probability of one event occurring with some relationship to one or more other events.