### Cost-Effectiveness of Antibiotics for Otitis Media Treatment**Overview:**Otitis media, commonly known as a middle ear infection, is typically treated with antibiotics. In a study, researchers compared two antibiotics, labeled as Antibiotic A and Antibiotic B, to evaluate their cost-effectiveness. Antibiotic A is known for being inexpensive, safe, and effective. Conversely, Antibiotic B is also safe but is more expensive and generally more effective. A decision tree diagram is used to illustrate the expected total costs, incorporating medication expenses, office visits, ear checks, and lost work hours.#### Questions:**a. Calculate the expected cost of using each antibiotic to treat a middle ear infection.****b. Determine which antibiotic should be chosen to minimize the total expected cost.**#### Diagram Explanation:The decision tree diagram assesses the costs associated with the two antibiotics based on possible outcomes - cure or no cure.- **Antibiotic A**: - Probability of Cure: 0.75 - Cost if Cured: $59.30 - Probability of No Cure: 0.25 - Cost if Not Cured: $96.15- **Antibiotic B**: - Probability of Cure: 0.85 - Cost if Cured: $69.15 - Probability of No Cure: 0.15 - Cost if Not Cured: $106.00**a. The expected cost of using Antibiotic A is:**\[ \text{Expected Cost} = (0.75 \times 59.30) + (0.25 \times 96.15) \]**b. The expected cost of using Antibiotic B is:**\[ \text{Expected Cost} = (0.85 \times 69.15) + (0.15 \times 106.00) \]*Note: Round the expected cost to the nearest cent as needed.*By calculating and comparing these expected costs, one can determine which antibiotic should be chosen to minimize the total expected cost.

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Description: ### Cost-Effectiveness of Antibiotics for Otitis Media Treatment**Overview:**Otitis media, commonly known as a middle ear infection, is typically treated with antibiotics. In a study, researchers compared two antibiotics, labeled as Antibiotic A and

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0.75, Care Otitis media, or middle ear infection, is initially treated with an antibiotic. Researchers have compared two antibiotics, A and B, for their cost effectiveness. A is inexpensive, safe, and effective. B is also safe. However, it is considerably more expensive and it is generally more effective. Use the tree diagram to the right (where the costs are estimated as the total cost of medication, office visit, ear check, and hours of lost work) to answer the following. a. Find the expected cost of using each antibiotic to treat a middle ear infection. S59 30 0.25 No cure $96.15 0.85, Cure $69.15 0.15 No cure $I06.00 b. To minimize the total expected cost, which antibiotic should be chosen? a. The expected cost of using antibiotic A is $ (Round to the nearest cent as needed.)

0.75, Care Otitis media, or middle ear infection, is initially treated with an antibiotic. Researchers have compared two antibiotics, A and B, for their cost effectiveness. A is inexpensive, safe, and effective. B is also safe. However, it is considerably more expensive and it is generally more effective. Use the tree diagram to the right (where the costs are estimated as the total cost of medication, office visit, ear check, and hours of lost work) to answer the following. a. Find the expected cost of using each antibiotic to treat a middle ear infection. S59 30 0.25 No cure $96.15 0.85, Cure $69.15 0.15 No cure $I06.00 b. To minimize the total expected cost, which antibiotic should be chosen? a. The expected cost of using antibiotic A is $ (Round to the nearest cent as needed.)

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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