When focused on the youngest age group, a 20% increase in medical spending is associated with: FIGURE 3.1 Elasticity of health with respect to medical spending, by age. 0.5 0.4 0.3 0.2 0.1 20 40 60 80 100 Age Source: Hall and Jones, 2007. Note: "Whiskers" show standard errors of the estimates for each age group. 4% increase in conditional life expectancy 20% increase in conditional live expectancy O 8% increase in conditional life expectancy Elasticity of health with respect to medical spending
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- Suppose you are currently (i.e. 2024) performing a cost-effectiveness analysis and you wish to include the cost per visit of a hospital admission for an acute ischemic stroke in a patient without major complications or comorbidities in your analysis. The Agency for Healthcare Research and Quality's HCUP National Inpatient Sample online database reports the following information for 2015: 2015 National Medicare-Severity Diagnosis Related Groups (MS-DRG): #063 Acute ischemic stroke w use of thrombolytic agent w/o cc/mcc Number Total number of discharges: N All discharges + Rate Rate of discharges per 100,000 persons 2.2 Length of stay LOS (length of stay), days (mean) 3.0 LOS (length of stay), days (median) 3.0 Hospital charges Charges, $ (mean) 63,243 Hospital costs Costs, $ (mean) 15,239 + Due to the transition from ICD-9-CM to ICD-10-CM in October 2015, these 2015 statistics were calculated using only quarter 1-3 data, and the statistics available are limited What would you use for…Briefly Explain the differences between Rapid Upper Limb Assessment and Rapid Entire Body Assessment.Number of outpatient visit has.... and number of hospital beds has... over the last four decades in the US.
- data analysis, please show work Here is a table showing the approximate breakdown of blood types in the United States: Blood Type: A B AB O P(Blood Type in US) 0.43 ? 0.03 0.46 Here is a table showing the approximate breakdown of blood types in the United Kingdom: Blood Type: A B AB O P(Blood Type in the U.K.) 0.37 0.1 0.04 0.49 For all questions below, you may assume that the blood type of an individual in the US and the blood type of an individual in the UK are independent of each other. If you were to choose one person at random from the US and another person at random from the UK, what is the probability that they will both have blood type A? If you choose a person at random from the US and a person at random from the UK, what is the probability that neither will be of blood type O? If you choose three people at random from the US, what is the likelihood that none of them are of blood type B? If you choose two people at random, what is the probability that both…The formula to calculate elasticity using the arc method is given below: E=Q2-Q1Q1+Q22P2-P1P1+P22Where,Q1= initial quantityQ2=new quantityP1=initial priceP2=new price E=340-306306+340221-2424+212E=34323-322.5E=34×22.5323×-3E=765-969E=-0.79 The value of elasticity in absolute terms is 0.79. Since the value of elasticity in absolute terms is less than one (0.79<1) the demand is inelastic. Can you put the above in correct format as per the formolation i get the answer different so not sure if i am doing something wrong see pic.Suppose that in the fictional country ASU in 2012, a mandate was passed where everyone between the ages of 23-25 will receive health insurance at a discounted rate, while individuals aged 27-29 were not impacted by this policy. You, a researcher, want to study the effect of offering discounted health insurance coverage on the use of mental health services. You have data on the average number of visits for these two age groups over time. Using the information in the table below, a quick difference-in-difference calculation suggests that the mandate led to Time Periods Age group Avg. Avg. Number of Number of visits visits Pre-2012. Post-2012 23 to 25 2.3 27 to 29 2.5 approximately 0.3 more visits. approximately 0.7 more visits. approximately 0.4 fewer visits. approximately 0.7 fewer visits. approximately 0.3 fewer visits. 020202 337 SUCHARY 3.0 2.9 P 1302 126 70 5572 25 20120822 2012 C
- 2. The market demand function for strawberries is given by the equation: Q=276 2.5Pstr +0.6 I - 0.7 Pcr, str Where is the demand for strawberries in kilograms, Pstr is the price of strawberries per kilogram (in USD), str I is the household monthly income (in USD), and P is the price of cream per kilogram (in USD). Assume that Pstr is equal to $8, I is equal to $150, and Per is equal to $5. a. Determine the price elasticity of demand for strawberries. b. Determine the income elasticity of demand for strawberries. Is strawberry a normal/inferior good? Why? d. c. Determine the cross-price elasticity of demand for strawberries with respect to the price of cream. Based on your answer from (c), can we say cream and strawberries are substitute goods/ or complement goods? Why? Assume that the prices of strawberries and cream remain constant, but income increased three fold. What is going to happen on the demand for strawberries? Please use a diagram to provide your explanation. e.Discuss what is known about price elasticities of demand for various health care servicesSuppose the income elasticity of demand for health care insurence is 0.3. If the level of income decreasesd by 1 percent , The demand for health insurence will 1.rise By.29 percent 2.rise by 0.3 percent 3.Fall by .29 percent
- Prevalence of diabetes in Bradford: Does food labeling influences consumer decision towards healthy eating?5) Suppose a microcredit loan program was randomly assigned among eligible poor households. Due to randomization, the treatment and control group are on average same in terms of both observable and unobservable characteristics before the loan was disbursed. We are interested in the impact of microcredit on earnings. After the program has run for 2 years, we collect information on earnings for both the treatment and comparison units. a) How can you measure the impact of the credit program?2. The CDC released the following data for the US population in its 2013 Vital Statistics report. Calculate the mortality rate for each age interval and add it to the table above. Then, below, describe the trends in adult and childhood mortality in the United States in 2013. Age interval Number dying in age interval Number surviving at beginning of age interval Mortality Rate (per 1000) 0-10 756 100,000 11-20 292 99,244 21-30 890 98,953 31-40 1,234 98,164 41-50 2,457 96,811 51-60 5,564 94,352 61-70 10,479 88,788