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(8) 1000 athletes are participating in a regional high school track and field competition. They must provide a urine sample for a drug test. Athletes who fail the drug test are eliminated from the meet and suspended from competition for the following year. The drug test is 95% accurate. Assume 4% of the athletes actually use drugs. • What fraction of the athletes who fail the test are falsely accused? (Show your calculations)

(8) 1000 athletes are participating in a regional high school track and field competition. They must provide a urine sample for a drug test. Athletes who fail the drug test are eliminated from the meet and suspended from competition for the following year. The drug test is 95% accurate. Assume 4% of the athletes actually use drugs. • What fraction of the athletes who fail the test are falsely accused? (Show your calculations)

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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is the approximate finance charge that you would owe for one year, (b) assuming you did not repay any principal? (7) What is the definition of Annual Percentage Rate ('APR') for a loan? Why is it typically different than the stated interest rate? (8) 1000 athletes are participating in a regional high school track and field competition. They must provide a urine sample for a drug test. Athletes who fail the drug test are eliminated from the meet and suspended from competition for the following year. The drug test is 95% accurate. Assume 4% of the athletes actually use drugs. • What fraction of the athletes who fail the test are falsely accused? (Show your calculations) (9) Suppose you are choosing between two health insurance policies: A 'low-deductible' policy, that has premiums of $250.00 per month and a $1000.00 annual deductible, or • A 'high-deductible' policy that has premiums of $150.00 per month and a $6,000.00 annual deductible. Assume that the two plans are otherwise identical. How would you (a) evaluate the cost difference between the policies? Which Plan would you choose and Why? (Show your Calculations). (b) (10) What is the 'Rule of 72'? Provide a Numeric Example of how the 'Rule of 72' Works (Show Your Calculations).
Transcribed Image Text:is the approximate finance charge that you would owe for one year, (b) assuming you did not repay any principal? (7) What is the definition of Annual Percentage Rate ('APR') for a loan? Why is it typically different than the stated interest rate? (8) 1000 athletes are participating in a regional high school track and field competition. They must provide a urine sample for a drug test. Athletes who fail the drug test are eliminated from the meet and suspended from competition for the following year. The drug test is 95% accurate. Assume 4% of the athletes actually use drugs. • What fraction of the athletes who fail the test are falsely accused? (Show your calculations) (9) Suppose you are choosing between two health insurance policies: A 'low-deductible' policy, that has premiums of $250.00 per month and a $1000.00 annual deductible, or • A 'high-deductible' policy that has premiums of $150.00 per month and a $6,000.00 annual deductible. Assume that the two plans are otherwise identical. How would you (a) evaluate the cost difference between the policies? Which Plan would you choose and Why? (Show your Calculations). (b) (10) What is the 'Rule of 72'? Provide a Numeric Example of how the 'Rule of 72' Works (Show Your Calculations).
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