Which of the following is the correct meaning of a flashing yellow traffic light?

A flashing yellow traffic light signals to drivers that they should proceed with caution. It alerts them to be aware of their surroundings and to prepare for any potential hazards, which could include pedestrians or other vehicles. The appropriate action for drivers when encountering a flashing yellow light is to slow down and be prepared to yield if necessary, as the light indicates that conditions may not be entirely safe for uninterrupted travel.

Choosing this option emphasizes the importance of being vigilant at intersections and understanding that while a flashing yellow does not require a complete stop, it does require heightened awareness and readiness to react to changing circumstances.