What Is Forensic Medicine

question 2

Essay

What is forensic medicine?

Apply Bayes' Law to compute posterior and prior probabilities.

Calculate probabilities of compound events using rules of addition and multiplication.

Distinguish between independent and dependent events in probability.

Calculate probabilities in real-life scenarios, such as bidding for contracts or sales and interest rates forecasts.

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Definitions:

Ledger Float

The time difference between when a check is written and when it is actually deducted from the payer's account.

Collection Float

The time period between when a check is deposited into a bank account and when the funds are available.

Lockbox System

A service offered by banks to companies for the collection of payments from customers, speeding up the process of receiving and depositing checks.

Collection Float

The time between when a check is deposited into a bank and when the amount is credited, affecting cash flow management.