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A Random Person Is Selected from a Large Population in Which

question 47

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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 (this percentage is called "specificity" of the test) is administered to this individual and gives a positive result.What specificity would actually be required to conclude that the probability that this individual is actually a user of this drug is 0.75?


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Short-Term Loan

a borrowing arrangement designed to provide funds for a short period, typically less than a year, and is used for immediate financial needs.

Supplier

An individual or company that provides goods or services to another entity, typically as part of a supply chain.

Venture Capitalist

An investor who provides capital to startup companies and small businesses with perceived long-term growth potential in exchange for equity or an ownership stake.

Institutional Investors

Institutional investors are organizations such as pension funds, insurance companies, and mutual funds that invest large sums of money in securities and assets.

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