What Is the Usefulness of a Shadow Price (Or Dual

question 28

Essay

What is the usefulness of a shadow price (or dual value)?

Understand the concept and calculation of sensitivity in screening tests.

Understand the concept and calculation of specificity in screening tests.

Recognize the effects of sequential testing on net sensitivity.

Distinguish between intra- and inter-observer variability as sources of measurement error.

---

Definitions:

Customer Service

The assistance and support provided by a company to those who buy or use its products or services.

Operating Efficiencies

Relates to the ability of an organization to minimize waste and maximize outputs from given inputs, effectively enhancing performance and productivity.

Productivity

The quantity and quality of work performance, with resource use considered.

Competitive Advantage

A condition or circumstance that puts a company in a favorable or superior business position compared to its competitors.