Answer:
The probability that you have the disease, given that your test is positive is ≈ 0.0098
Explanation:
This is a conditional probability problem.
Let P(A|B) denote the conditional probability of A given B and it satisfies the equation
- (1) P(A|B) = P(A) × P(B|A) / P(B)
We have the the probabilities:
- P(Testing Positive | Having Disease) =0.99
- P(Testing Negative | Not Having Disease) =0.99
- P(Testing Positive | Not Having Disease) = 1-0.99=0.01
- P(Having Disease) = 0.0001 (striking only one in 10,000 people)
- P(Not Having Disease)= 1 - 0.0001 = 0.9999
<u>We can calculate</u>:
P(Testing Positive) =
P(Having Disease) × P(Testing Positive | Having Disease) + P(Not Having Disease) × P(Testing positive | Not Having Disease ) = 0.0001×0.99 + 0.9999×0.01 =0.010098
<u>from </u><u>(1) </u><u>we have the equation</u>:
P(Having Disease|Testing Positive)=P(Having Disease) × P(Testing Positive | Having Disease)/ P(Testing Positive) = 0.0001×0.99/0.010098≈0.0098
Thus, the probability that you have the disease, given that your test is positive is ≈ 0.0098
True, false, false. Hope this helps:)
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Answer:
C. deriving benefits from highly focused and high technology markets
Explanation:
Firms that engage in cost-leadership approach seek to combine a low per-unit income with large sales for profit making purposes. Typically, but not always, they are more inclined to market their products and services to a large population base or a niche with a high demand volume. While differentiation enables a company to accomplish a competitive advantage. A Competitive advantage enables a company to achieve more strides over other companies offering related product substitutes. It is an important marketing process that is of critical economic importance to a business.
It should be noted that deriving benefits from highly focused and high technology markets is not part of the approaches to combining overall cost leadership and differentiation competitive advantages.
