Discussion Questions Week 4 Essay Example | Topics and Well Written Essays - 500 words

Discussion Questions Week 4 - Essay Example By the central limit theorem, by performing the experiment many times, I would end up with a normal distribution, and at very high numbers of experiments, the mean, the mode and the median scores would all tend to be 50 – or a perfect Bells curve. The jaggedness and asymmetry of the curve would also disappear on numerous repetitions of the experiment. 2. Confidence intervals apply to samples ( in the above example, the 100 toss batches) drawn from a large population ( a very large number of batches thrown) . It means the range of scores ( say 45 – 55 in the above example), when the population mean of 50 is likely to be present in a high proportion of cases. In normal statistical work an arbitrary figure, 95 % is taken as the proportion to define the confidence intervals, which is referred to as the confidence level. The most controllable method to increase the precision (narrowing) of the confidence interval is to increase the sample size. For instance, in the current example, if the coin is thrown a 1000 times every batch, the confidence intervals could be significantly narrowed (say, 48 – 52). Even if we assume that the sample size of 1100 is normally distributed ( although in polls like this it is rarely so) and that the sample mean of 572 is a true estimation of a population which votes for the mayor by a majority, we can than then test the null hypothesis that this sample H1 is different from a larger population sample H0 where the mayor only has a 50 % chance of winning ( sample mean 550). Let us assume (1) that the standard deviation of the samples is 11, as then, the sample mean of H1 is just within 2 standard deviations away from the population mean of 550 ( i.e. 550 +

Implications of Health Economic Concepts for Healthcare Coursework

Implications of Health Economic Concepts for Healthcare - Coursework Example In the health care, accesses to medical services are always on high demand. However, there is a shortage of medical practitioners who can help in treating people (Edwards, 2001). This has an effect of increasing the medical costs that entrepreneurs will charge. This is because there is a shortage of medical practitioners, and the demand is high for the services of these practitioners. Another example is on generic drugs. Because of the many and great supply of these drugs, they are cheap when compared to the original version of these drugs (Ko, 2013). The law of supply and demand denotes that when supply is high, then the prices of the products will be low. The experiences of a variety of health care organizations are able to demonstrate the fact that the demand of health care services is not insatiable, and they are predictable. It is possible to predict the advice, appointment, or the message of a health care service provider, basing on time, population, and scope of the practice of the provider (Dalton, 2012). It is possible to anticipate periods of low or high demand by analyzing the demand data that is collected, based on the requests recorded in electronic health registers, or accounting books. An health care system can use these predictions for purposes of matching the supply of its services to the various needs of patients for a particular service (Lee and Kim, 2012). Most people believe that the demand for health care services is inelastic. For example if a person is sick, then he or she will not be very sensitive to price. A person suffering from malaria, typhoid, etc, will pay the price of medical treatment, irrespective on whether it is low, or high. However, the exception to this principles or rules touches on the purchase of eye glasses, plastic surgery, elective surgery, etc. These are considered luxurious health care services, and it is only for the preserve of the rich (Dalton, 2012). In