Traders from the faraway nation of Chplandia have brought infected goods to market in the capital of Pcoria. As a result, a new infectious disease called chpitis is spreading through the Pcorian population. Chpitis is not fatal but leaves victims severely disfigured for the remainder of their lives. The Pcorian government surveys victims to determine how burdensome chpitis is. Respondents claim they are indifferent between living ten years without chpitis and living twelve years covered with chpitis scars. Most respondents explain that they face a major social stigma in Pcoria’s schools and workplaces. What is the implied quality weight q for the aftermath of chpitis? Now assume that a drug company has developed an ointment that can be used to treat chpitis sores and reduce scarring. Surveys indicated that the ointment, which costs $50,000 for a full course of treatment, can improve quality of life from 0.8 to 0.9 for chpitis survivors. What is the ICER for taking the ointment over doing nothing for the typical chpitis victim (a 25-year-old)? Assume that life expectancy in Pcoria is 75 years. Assume that everyone in Pcoria agrees that a QALY is worth $10,000. Will a 25-year-old chpitis victim decide to get the ointment, which costs $50,000? What about a 60-year-old chpitis patient? What about a 69- year-old chpitis patient?
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
- Traders from the faraway nation of Chplandia have brought infected goods to market in the capital of Pcoria. As a result, a new infectious disease called chpitis is spreading through the Pcorian population. Chpitis is not fatal but leaves victims severely disfigured for the remainder of their lives.
- The Pcorian government surveys victims to determine how burdensome chpitis is. Respondents claim they are indifferent between living ten years without chpitis and living twelve years covered with chpitis scars. Most respondents explain that they face a major social stigma in Pcoria’s schools and workplaces. What is the implied quality weight q for the aftermath of chpitis?
- Now assume that a drug company has developed an ointment that can be used to treat chpitis sores and reduce scarring. Surveys indicated that the ointment, which costs $50,000 for a full course of treatment, can improve quality of life from 0.8 to 0.9 for chpitis survivors. What is the ICER for taking the ointment over doing nothing for the typical chpitis victim (a 25-year-old)? Assume that life expectancy in Pcoria is 75 years.
- Assume that everyone in Pcoria agrees that a QALY is worth $10,000. Will a 25-year-old chpitis victim decide to get the ointment, which costs $50,000? What about a 60-year-old chpitis patient? What about a 69- year-old chpitis patient?
- Suppose that the Pcorian government enrolls all its citizens in the Universal Insurance Program which pays (with 5% coinsurance) for any treatment. So the ointment costs patients only $2,500 out of pocket. Will a 25-year-old chpitis victim still decide to get the ointment? What about a 60-year-old chpitis patient? What about a 69-year-old chpitis patient?
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