Question

In: Operations Management

The manager of a drug company wants to examine the perspective of the insurance company as...

The manager of a drug company wants to examine the perspective of the insurance company as it relates to the measles vaccine. The manager ask your opinion on which morbidity cost she should include in the report, and your response will be ______________.

a.

The perspective of the insurance company does not matter because the drug is manufactured to save lives.

b.

The cost of making the drug

c.

Include everything because the insurance companies will cover the cost if it is reported.

d.

The costs that is linked to long term side effects.

Solutions

Expert Solution

c. Include everything because the insurance companies will cover the cost if it is reported.

In this context, the insurance companies need to cover the cost and the cost will mean the overall cost of the treatment as well.


Related Solutions

The marketing manager of a company producing a new cereal aimed for children wants to examine...
The marketing manager of a company producing a new cereal aimed for children wants to examine the effect of the color and shape of the box's logo on the approval rating of the cereal. He combined 3 colors and 2 shapes to produce a total of 6 designs. Each logo was presented to 3 different groups (a total of 18 groups) and the approval rating for each was recorded and is shown below. The manager analyzed these data using the...
A small insurance company with approximately 50 employees wants to hire an office manager. Technical insurance...
A small insurance company with approximately 50 employees wants to hire an office manager. Technical insurance knowledge is not required. The company is looking for someone with good organizational skills, managerial and supervisory skills, the ability to manage budgets and schedules, the ability to coordinate meetings, and excellent communication, interpersonal, and computer skills. Work experience is preferred. Analyze your knowledge and skills to determine if you have the qualifications to apply for this position. List your technical skills that are...
From a Freudian Perspective, examine a behavioral issue such as smoking, drug abuse, anxiety disorders, depression...
From a Freudian Perspective, examine a behavioral issue such as smoking, drug abuse, anxiety disorders, depression etc and explain how it would be explained
A manager of an insurance company goes through the data of insurance policies sold by insurance...
A manager of an insurance company goes through the data of insurance policies sold by insurance salesmen working under him. He finds that 90% of the people who purchase motor insurance are men. He wants to find that if 10 motor insurance owners are randomly selected, what would be the probability that exactly 6 of them are men?
(DRUG DOSAGE PROBLEM) A drug company wants to know how to calculate a suitable dose and time...
(DRUG DOSAGE PROBLEM) A drug company wants to know how to calculate a suitable dose and time between doses to maintain a safe but effective concentration of a drug in the blood. To be simple for the users of the drug, only a fixed dose at regular time intervals is considered possible. Suggest a way to model the problem, determine the main issues involved, and work out a solution. The answer should be a formula or algorithm for computing the dose...
Dr. Stambaugh predicts that a novel antidepressant drug will effect memory. To examine this, the drug...
Dr. Stambaugh predicts that a novel antidepressant drug will effect memory. To examine this, the drug is administered to a random sample of 22 trained rats. The rats were then placed in a maze and timed on how long it took them to complete it. The average completion time was 47 seconds. Normal rats have a mean completion time of 45 seconds with a standard deviation of 11 seconds. What can be concluded with an α of 0.05? a) What...
Dr. Stambaugh hypothesizes that a novel anxiety drug will affect memory. To examine this, the drug...
Dr. Stambaugh hypothesizes that a novel anxiety drug will affect memory. To examine this, the drug is administered to a random sample of 23 trained rats. The rats were then placed in a maze and timed on how long it took them to complete it. The average completion time was 47 seconds. Normal rats have an average completion time of 44 seconds with a standard deviation of 14 seconds. What can Dr. Stambaugh conclude with α = 0.01? a) State...
Process Capability (Cpk and Cp) The operations manager of an insurance claims- processing department wants to...
Process Capability (Cpk and Cp) The operations manager of an insurance claims- processing department wants to determine the claims-processing capability of the department. Claims usually take a minimum of four days to handle. The company has a commitment to handle all claims within 10 days. On the average, claims are processed in eight days and processing has a standard deviation of one day. a. Compute Cp and Cpk for the claims-processing department. Based on these computations, should the claims department...
How do you analyze a company and its industry from the perspective of: a) a manager...
How do you analyze a company and its industry from the perspective of: a) a manager b) investor c) creditor
A manager for an insurance company believes that customers havethe following preferences for life insurance...
A manager for an insurance company believes that customers have the following preferences for life insurance products: 20% prefer Whole Life, 10% prefer Universal Life, and 70% prefer Life Annuities. The results of a survey of 200 customers were tabulated. Is it possible to refute the sales manager's claimed proportions of customers who prefer each product using the data?ProductNumberWhole94Universal68Annuities38Step 1 of 10: State the null and alternative hypothesis.Step 2 of 10: What does the null hypothesis indicate about the proportions...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT