A Random Person Is Selected from a Large Population in Which

question 18

Multiple Choice

A random person is selected from a large population in which 5% are users of a dangerous illegal drug.A drug test that correctly identifies users 99% of the times and nonusers 95% of the time is administered to this individual and gives a positive result.What is the probability that this individual is actually a user of this drug?

• A) 0.99
• B) 0.94
• C) 0.61
• D) 0.53
• E) 0.51

Analyze transactions to determine their impact on accounts.

Appreciate the ethical considerations and responsibilities in financial accounting.

Understand how compound interest impacts the amortization of loans.

Calculate the amount of interest included in individual loan payments.

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Definitions:

Common Carrier

An entity that provides transportation services to the general public under license or authority provided by a regulatory body.

Contract Provision

A specific clause or term within a contract that stipulates a particular requirement, duty, or condition that must be adhered to by the parties involved.

Summary Judgment

A legal decision made by a court without a full trial, typically because there's no dispute over the essential facts of the case.

Reasonable Care Standard

A legal criterion requiring individuals to act with the level of care, vigilance, and foresight that a reasonable person would under similar circumstances, often applied in negligence cases.