You are the director of pharmacy at a large regional medical
center. It has come to your attention that Dr. Smith, a hospital
oncologist, has been prescribing medicines for cancer patients that
are not labeled for cancer treatment. While "off-label"
prescription is not against the law, you now recall a recent
interview Dr. Smith did on a radio talk show. During that interview
Dr. Smith talked about his discovery of the effectiveness of
green-tea, honey and homeopathic treatments for cancer patients.
Such a "holistic" approach to medicine has a certain appeal,
especially to patients who have received a poor prognosis. Many
cancer patients who were told they have only a few months to live
by their doctors have come to your hospital from hundreds of miles
away to be treated by Dr. Smith.
In addition to his work at your hospital, Dr. Smith owns and runs a
clinic located in a poor Mississippi Delta community. When your
hospital recently replaced its old outdated sterilizer machines,
Dr. Smith asked if he could have one of the old machines for use at
his clinic. Dr. Smith is well known and most of his patients like
him. Last year he received an award from a religious group for his
service to the poor. However, you know that Dr. Smith recently
divorced his third wife. Her lawyer, known for her aggressive style
and hard bargaining, won a huge alimony and support judgment worth
$3 million against Dr. Smith. Rumor is that Dr. Smith is struggling
financially, because he sold one of his sports cars.
How should you handle this situation? In your paper, be sure to
consider the responsibilities and interests of your department, as
well as the hospital. Include the issues of insurance
reimbursement, standard of care, informed consent, public image of
the hospital, and Medicare/Medicaid reimbursement. Are there other
legal issues? Are there other moral or ethical issues?
In: Nursing
For the next three questions use this information to calculate the values listed below the data set.
The following table shows the before and after effects of a policy change that increases the number of visits by caregivers to those homes with people needing assistance. Data were gathered for 6 months prior to the policy change (a time when visits were once per day in the morning) and after the policy change (visits increased from once per day to 2-3 times per day). The scores were from a modified life enthusiasm scale where higher scores indicated higher contentment. Do the data presented show an increase in contentment? Test at α=.01
|
Life Contentment Change |
||||
|
Participant # |
Prior to Policy Change |
Post Policy Change |
D |
|
|
1 |
3 |
6 |
-3 |
|
|
2 |
8 |
14 |
-6 |
|
|
3 |
4 |
8 |
-4 |
|
|
4 |
6 |
4 |
2 |
|
|
5 |
9 |
16 |
-7 |
|
|
6 |
2 |
7 |
-5 |
|
|
7 |
12 |
17 |
-5 |
|
What is(are) the critical value(s) for this information?
(Round to two decimal places, and if two tailed please put only the
positive value)
In: Statistics and Probability
A construction company employing 288 people experienced the following safety record for the year:
Assuming an overtime rate of 22%, calculate:
TYPE EVERY THING PLEASE. SO I CAN COPY
In: Accounting
Use a 5% significance level.
In a large city, 200 persons were selected at random and each person was asked how many tickets he purchased that week in the state lottery. The results are given in the following table. Suppose that among the 7 persons who had purchased five or more tickets, 3 persons had purchased exactly five tickets, 2 persons had purchased six tickets, 1 had purchased seven tickets, and 1 had purchased ten tickets. Test the hypothesis that these 200 observations form a random sample from a Poisson distribution.
| Number of tickets previously purchased | Number of Persons |
| 0 | 52 |
| 1 | 60 |
| 2 | 55 |
| 3 | 18 |
| 4 | 8 |
| 5 or more | 7 |
In: Statistics and Probability
Daneen has borrowed $6000 from her bank to buy a new machine for her business. She has promised to make payments of $2000 after two years, $2500 after three years, and a final payment after five years. What is the size of the last payment, if interest is 8% compounded semiannually? show caculation by BAII plus CAlculator.You are encouraged to draw the timelines for yourself to help you with setting up the logic of how to solve the problem.
In: Finance
The Economic Order Quantity (EOQ) model is a classical model used for controlling inventory and satisfying demand. Costs included in the model are holding cost per unit, ordering cost and the cost of goods ordered. The assumptions for that model are that only a single item is considered, that the entire quantity ordered arrives at one time, that the demand for the item is constant over time, and that no shortages are allowed.
Suppose we relax the first assumption and allow for multiple items that are independent except for a restriction on the amount of space available to store the products. The following model describes this situation:
| Let Dj = | annual demand for item j |
| Cj = | unit cost of item j |
| Sj = | cost per order placed for item j |
| i = | inventory carrying charge as a percentage of the cost per unit |
| W = | the maximum amount of space available for all goods |
| wj = | space required for item j |
The decision variables are Qj, the amount of item j to order. The model is:
In the objective function, the first term is the annual cost of goods, the second is the annual ordering cost (Dj/Qj is the number of orders), and the last term is the annual inventory holding cost (Qj/2 is the average amount of inventory).
Set up a spreadsheet model for the following data:
| Item 1 | Item 2 | Item 3 | |
| Annual Demand | 2,000 | 2,000 | 1,500 |
| Item Cost ($) | 100 | 50 | 80 |
| Order Cost ($) | 150 | 135 | 125 |
| Space Required (sq. feet) | 50 | 25 | 40 |
W = 5,000
i = 0.2
Solve the problem using Excel Solver. Hint: You will need to start with decision variable values that are greater than 0 for Solver to find a solution.
If required, round your answers to two decimal places.
Optimal Solution:
Q1 = _______
Q2 = _______
Q3 = _______
If required, round your answer to the nearest dollar. Do not round intermediate calculations.
Total cost = $________
In: Economics
The Economic Order Quantity (EOQ) model is a classical model used for controlling inventory and satisfying demand. Costs included in the model are holding cost per unit, ordering cost and the cost of goods ordered. The assumptions for that model are that only a single item is considered, that the entire quantity ordered arrives at one time, that the demand for the item is constant over time, and that no shortages are allowed.
Suppose we relax the first assumption and allow for multiple items that are independent except for a restriction on the amount of space available to store the products. The following model describes this situation:
| Let Dj = | annual demand for item j |
| Cj = | unit cost of item j |
| Sj = | cost per order placed for item j |
| i = | inventory carrying charge as a percentage of the cost per unit |
| W = | the maximum amount of space available for all goods |
| wj = | space required for item j |
The decision variables are Qj, the amount of item j to order. The model is:
In the objective function, the first term is the annual cost of goods, the second is the annual ordering cost (Dj/Qj is the number of orders), and the last term is the annual inventory holding cost (Qj/2 is the average amount of inventory).
Set up a spreadsheet model for the following data:
| Item 1 | Item 2 | Item 3 | |
| Annual Demand | 2,500 | 2,500 | 1,500 |
| Item Cost ($) | 100 | 50 | 80 |
| Order Cost ($) | 165 | 145 | 125 |
| Space Required (sq. feet) | 50 | 25 | 40 |
W = $21,000
i = 0.3
Solve the problem using Excel Solver. Hint: You will need to start with decision variable values that are greater than 0 for Solver to find a solution.
If required, round your answers to two decimal places.
Optimal Solution:
Q1 =
Q2 =
Q3 =
If required, round your answer to the nearest dollar. Do not round intermediate calculations.
Total cost = $
In: Operations Management
The Economic Order Quantity (EOQ) model is a classical model used for controlling inventory and satisfying demand. Costs included in the model are holding cost per unit, ordering cost and the cost of goods ordered. The assumptions for that model are that only a single item is considered, that the entire quantity ordered arrives at one time, that the demand for the item is constant over time, and that no shortages are allowed.
Suppose we relax the first assumption and allow for multiple items that are independent except for a restriction on the amount of space available to store the products. The following model describes this situation:
| Let Dj = | annual demand for item j |
| Cj = | unit cost of item j |
| Sj = | cost per order placed for item j |
| i = | inventory carrying charge as a percentage of the cost per unit |
| W = | the maximum amount of space available for all goods |
| wj = | space required for item j |
The decision variables are Qj, the amount of item j to order. The model is:
In the objective function, the first term is the annual cost of goods, the second is the annual ordering cost (Dj/Qj is the number of orders), and the last term is the annual inventory holding cost (Qj/2 is the average amount of inventory).
Set up a spreadsheet model for the following data:
| Item 1 | Item 2 | Item 3 | |
| Annual Demand | 2,500 | 2,500 | 1,500 |
| Item Cost ($) | 100 | 50 | 80 |
| Order Cost ($) | 165 | 145 | 125 |
| Space Required (sq. feet) | 50 | 25 | 40 |
W = $21,000
i = 0.3
Solve the problem using Excel Solver. Hint: You will need to start with decision variable values that are greater than 0 for Solver to find a solution.
If required, round your answers to two decimal places.
Optimal Solution:
Q1 =
Q2 =
Q3 =
If required, round your answer to the nearest dollar. Do not round intermediate calculations.
Total cost = $
In: Operations Management
1.) Suppose we have the following values for a dependent variable, Y, and three independent variables, X1, X2, and X3. The variable X3 is a dummy variable where 1 = male and 2 = female:X
| X1 | X2 | X3 | Y |
| 0 | 40 | 1 | 30 |
| 0 | 50 | 0 | 10 |
| 2 | 20 | 0 | 40 |
| 2 | 50 | 1 | 50 |
| 4 | 90 | 0 | 60 |
| 4 | 60 | 0 | 70 |
| 4 | 70 | 1 | 80 |
| 4 | 40 | 1 | 90 |
| 6 | 40 | 0 | 70 |
| 6 | 50 | 1 | 90 |
| 8 | 80 | 1 | 100 |
| 9 | 90 | 0 | 80 |
| 9 | 20 | 1 | 150 |
a.) Run the multiple regression in Excel and provide the resulting multiple regression equation.
b.) Provide the R-Square measure. Is this a good regression model? Explain. Use a level of significance of 0.05 in any tests you consider.
c.) Which variables are important in explaining Y when the level of significance is 0.05? Is the dummy variable important at this level of significance? Discuss what coefficients mean regarding the effect of each variable on Y.
d.) Suppose a female with X1= 5 and X2= 80 is selected. What would be her predicted value of Y?
e.) What types of problems might exist in this multiple regression?
In: Statistics and Probability
Do you notice any potential outliers? If so, what values are
they? Show your work in how you used the potential outlier formula
to determine whether or not the values might be outliers.
Construct a box plot displaying your data.
Does the middle 50% of the data appear to be concentrated together
or spread apart? Explain how you determined this.
Looking at both the histogram and the box plot, discuss the
distribution of your data.
| # of pencils | Frequency | Culumative Frequency | Relative Frequency | Cumulative Relative Frequency |
| 0 | 5 | 5 | 0.125 | 0.125 |
| 1 | 14 | 19 | 0.35 | 0.475 |
| 2 | 10 | 29 | 0.25 | 0.725 |
| 3 | 7 | 36 | 0.175 | 0.90 |
| 4 | 1 | 37 | 0.025 | 0.925 |
| 5 | 0 | 37 | 0 | 0.925 |
| 6 | 0 | 37 | 0 | 0.925 |
| 7 | 1 | 38 | 0.025 | 0.95 |
| 8 | 1 | 39 | 0.025 | 0.975 |
| 9 | 0 | 39 | 0 | 0.975 |
| 10 | 1 | 40 | 0.025 | 1 |
In: Statistics and Probability