Likelihood of a correct diagnosis of a disease A certain cancer is found in one person in 5000. If a person does have the disease, in
92% of the cases the diagnostic procedure will show that he or she actually has it. If
a person does not have the disease, the diagnostic procedure in one out of 500 cases
gives a false positive result. Determine the probability that a person with a positive
test has the cancer.
Very lost on how to go about formulating an equation for this problem. I know it has something to do with conditional probabilties but I'm unsure where to begin. My best guess would be $((1-0.92)*(1/500))/(1/5000)=0.8$ but I am unsure if this is even close to right. Any advice would be appreciated. 

$P(H_1)=2/10000$
$P(u=1|H_1)=92/100$
$P(u=1|H_0)=2/1000$
Using the Bayes rule:
$$P(H_1|u=1)=\frac{P(u=1|H_1)P(H_1)}{P(u=1)}$$
where
$$p(u=1)=P(u=1|H_1)P(H_1)+P(u=1|H_0)P(H_0),$$
and
$$P(H_1)+P(H_0)=1.$$
