The writer is very fast, professional and responded to the review request fast also. Thank you.
The government is attempting to determine whether travelers should be tested for contagious disease. Let’s assume that the decision will be made on a financial basis. Assume that each traveler who enters and does not have the disease will contribute $10,000 to the national economy. On the other hand, the travelers who is allowed into country and has a disease does not contribute to GDP and costs the United States $100,000. Based on the data, it is assumed that 10% of all travelers have the disease. The government has three options: admit all travelers, ban all flights, or test travelers for disease before determining whether they should be admitted to country or not. It costs $100 to test a person for the disease. Recent studies suggest that the false negative rate of the test is 20% (i.e. ℙ{−|sick}=0.20); whereas the false positive rate is 5% (i.e. ℙ{+|healthy}=0.05). The government’s goal is to maximize ( per traveler ) expected benefits minus expected costs.
i. Draw the decision tree and find the optimal policy together with its expected
outcome (i.e. EMV of the optimal policy).
ii. Find EVSI and EVPI.
iii. What is the minimum level of false negative at the test for which the government would reject the travelers even though they have negative test result. (Assuming the rest of the probabilities stay the same). (Hint: you can consider the tree below.)
Show more
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more