Final answer:
A flashing yellow arrow traffic signal denotes that left turns are permitted, but drivers must yield to both oncoming traffic and pedestrians to ensure safety.
Step-by-step explanation:
A flashing yellow arrow means left turns are allowed, but you must yield to oncoming traffic and pedestrians. This type of traffic signal plays a crucial role in promoting pedestrian safety at busy intersections. It is especially important in areas with high foot traffic, such as near campuses, where students and other pedestrians need to cross the road. A flashing yellow arrow effectively communicates to drivers that they are permitted to make a left turn but they have to wait for a safe gap in oncoming traffic as well as allowing pedestrians to cross safely.