Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The test for disease X has specificity of 99% (P(-| not X); and sensitivity of 90% P(+| X). A patient has been exposed but is

The test for disease X has specificity of 99% (P(-| not X); and sensitivity of 90% P(+| X). A patient has been exposed but is not showing any symptoms; his doctor assesses that the probability the person has X is 45%. The two alternatives are to treat or not treat. The cost of treating X is $2000. The cost of untreated X is $25,000. What is the value of imperfect information, what is the value of the disease X test in this case?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Calculus (Multi Variable)

Authors: Michael Sullivan

1st Edition

1464142890, 9781464142895

More Books

Students also viewed these Mathematics questions

Question

How did you get 0.08 billion in the enterprise value?

Answered: 1 week ago