If a person has a medical condition that has a quality of life index of 0.75, and the condition persisted for two years, then the individual would experience: a. 0.25 QALYs b. 1.50 c 0.50 d 0.75
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A: Answer-
If a person has a medical condition that has a quality of life index of 0.75, and the condition persisted for two years, then the individual would experience:
a. 0.25 QALYs
b. 1.50
c 0.50
d 0.75
Quality-adjusted life-year (QALY) is the measurement of disease burden on an individual including quality and quantity of life lived.
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- QUESTION 13 The size of the uninsured and underinsured population in the United States has become an indication of the access problems in the US healthcare system.TrueFalse QUESTION 14 If the expected age of death for a male aged 20 is 75, then a 20-year-old man who dies is considered to have lost how many years of life? A. 20 years of life B. 75 years of life C. 55 years of life D. None of these QUESTION 15 Why is survival time considered to be a good indicator of health status? A. It measures health outcomes as compared to costs B. It places an emphasis on the time spent(duration) in a specific health state C. The measure accounts for mortality rates D. It measures outcomes or health state at a given point in timeAssume a patient has a particular disease. The quality weight (q) associated with the disease is 0.5, meaning the patient has 0.5 quality-adjusted life year (QALY) from living one year with the disease. The patient with such a disease can only live for 10 years (without treatment). Now a drug has been developed to treat this disease. With the drug, the quality of life (q) can be improved to 0.8 and patients can live for 15 years. (1) Calculate the QALYs gained due to the treatment (relative to no treatment). Assume no discounting of future years. Please show all your calculations (points will be deduced if the answer contains only one number without steps). (2) If the drug costs $49,000, what is the incremental cost-effectiveness ratio of the treatment compared with no treatment? Please show all your calculations (points will be deduced if the answer contains only one number without steps). (3) Assume it is agreed that a QALY is worth $5000 (the patient is willing to pay up to $5000…John wants to buy a used car. He knows that there are two types of car in the market, plums and lemons. Lemons are worse quality cars and are more likely to break down than plums. John is willing to pay £10, 000 for a plum and £2, 000 for a lemon. Unfortunately, however, he cannot distinguish between the two types. Sellers can offer a warranty that would cover the full cost of any repair needed by the car for y ∗ years. Considering the type and likelihood of problems their cars can have, owners of plums estimate that y years of guarantee would cost them 1000y, owners of lemons estimate that the cost would be 2000y. John knows these estimates and decides to offer £10, 000 if a car comes with y ∗ years of warranty, £2, 000 if a car comes without warranty. For which values of y ∗ is there a separating equilibrium where only owners of plums are willing to offer the y ∗ -years warranty? Clearly explain your reasoning.
- the probability of reaching the wrong conclusion to 0.05 the probability of a Type II error equal to 0.05 the probability of reaching the correct conclusion equal to 0.05 the probability of a Type I error equal to 0.05 attached in ss below thanksA person lives for 3 years with a disease and the current standard of care for that disease means he/she lives with a utility level of 0.7 . If that person takes a new medicine (Medicine A) because of which his/her utility level increases to 0.8, If another new medicine (Medicine B) prolongs the patient’s life by 2 years, at a utility level of 0.7,-Calculate the new QALYFind the expected value assuming the risk factor is 30 % and the interest rate 12%, if you will receive $20,000 one year from today.please show work
- If the expected age of death for a male aged 20 is 75, then a 20-year-old man who dies it's considered to have lost how many years of life?Your company must decide whether to introduce a new product. The sales of the product will be either at a high (success) or low (failure) level. The conditional value for this decision is as follows Decision High Low Introduce $4,000,000 -$2,000,000 Do Not Introduce 0 0 Probability 0.3 0.7 You have the option to conduct a market survey to sharpen you market demand estimate. The survey costs $200,000. The survey provides incomplete information about the sales, with three possible outcomes: (1) predicts high sales, (2) predicts low sales, or (3) inconclusive. Such surveys have in the past provided these results Result High Low Predicts High 0.4 0.1 Inconclusive 0.4 0.5 Predicts Low 0.2 0.4 a) Using expected monetary value, what is your decision? b) What is the expected value of perfect information before taking the survey? c) Draw the complete decision tree, including the survey option. d) What is the…Your production line has recently been producing a serious defect. One of two possible processes, A and B, could be the culprit. From past experience you know that the probability that A is causing the problem is 0.8 but investigating A costs $100,000 while investigating B costs only $20,000. What are the expected error costs of shutting down process B first? Group of answer choices $80,000. $20,000. $16,000. $4,000. None of the above.
- Is it not lockdown due to Covid-19 Pandemic is a best decision for the nation and citizen compared to lockdown? Why?0.25 is not the answerABC Explosives has purchased fire insurance for its factory. It can institute a fire prevention program, which would cost $90, but which would lower the probability of a fire from 0.01 to 0.001. The insurance company cannot determine whether ABC has instituted the program. However, it charges a deductible in the event of a fire (i.e. ABC has to pay a certain amount to the insurance company if a fire occurs). What is the smallest deductible that will encourage ABC to institute the fire prevention program?