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A vaccine for a new virus is available and preliminary testing finds that among those vaccinated, only 5% become infected when exposed to the virus.
A vaccine for a new virus is available and preliminary testing finds that among those vaccinated, only 5% become infected when exposed to the virus. Further, suppose unvaccinated individuals in your neighbourhood have a 20% chance of becoming infected when exposed to the virus. Also, suppose30% of people in your neighbourhood have been vaccinated, but you don't know for sure which ones.
- a)Suppose you hear that someone living nearby is infected with virus, what is the chance they had already been vaccinated?
- b)If you become infected, you will have to take off work, and this means a loss of $500 in wages. On the other hand, the vaccine is not yet free, it costs $50. Suppose you think your chance of being exposed to the virus is 75%. Is it worth getting the vaccine? Why or why not?
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