Create an ice scatterplot

Assignment Help Public Economics
Reference no: EM1367282

Required to conduct PSA using the decision-tree from the Patel case study (i.e. the rotavirus vaccination case study). Please follow the instructions below to modify your model, conduct PSA and answer the questions.

Step 1. Modify the tree model

Run the model and note your base case results.  Based on a Tornado Diagram from the model, we have selected important variables for PSA.  (You do not need to run the Tornado analysis).  Please convert these variables to distributions.  The distribution type and input parameters are reported in Table 1 below.Calculate the likeliest values.  (Hint: μ = [(a + b + c)/3]

Step 2. Calculate the ICER again

After completing the new tree, report your base-case ICER in Table 2- hint: set Preference as Cost-Effectiveness, then Analysis >> Cost-Effectiveness. 

Step 3. Conduct PSA and report the results.  Use: 10,000 iterations with baseline: current practice & comparator: national program

a. Create an ICE scatterplot (turn in).

b. Explain your scatterplot.Which quadrant do most of your iterations fall into?What does this mean?

c. Plot the ICER distribution graph (turn in).

d. Report the ICER distribution statistics in the Table 3 below. 

e. Explain your graph.

f. Plot the acceptability curves with a willingness to pay of $20,000 (turn in).

g. If the WTP in Pakistan is 6000 $/death averted, what is the probability that the national program will be cost-effective? What if the WTP is 10000 $/death averted?

h. Explain the figure in general terms.  

Table 1. Variables and distributions for the PSA






 

Variable Name

Description

Baseline

Distribution

Min

Max

likeliest

Epidemiology inputs







pRVInfected

RVGE cumulative incidence for 5 years

0.663

Triangular

0.5

0.9

 

pDieOfRVGE

RVGE case-fatality ratio

0.006

Triangular

0.001

0.01

 

pEfficacy

Vaccine Efficacy

0.483

Triangular

0.223

0.661

 

pCurVaccineCoverage

Current rotavirus vaccine coverage

0.06

Triangular

0.01

0.1

 

pExpVaccineCoverage

Expected vaccine coverage (national programs)

0.85

Triangular

0.65

1

 

pHomeCare

Patients get home care

0.888

Triangular

0.7

1

 

pFormalOutpatient

Among those with formal care, the proportion of getting outpatient care

0.6875

Triangular

0.5

0.9

 

Cost Inputs






 

cUnitVaccine

Unit cost for the vaccine

5

Triangular

1

7.5

 

cHospitalization

Hospitalization cost (4-day stay)

33.4

Triangular

25.05

41.75

 

Table 2. PSA Results

Strategy

Cost

Incr Cost

Effectiveness

IncrEff

ICER

Current practice

 

 

 

 

 

National Program

 

 

 

 

 

Are the results the same from the model prior to your entering the distributions? 

Table 3: PSA ICER results

 

Mean

SD

Median

95% Confidence Intervals

2.5%

97.5%

ICER

 

 

 

 

 

Reference no: EM1367282

Questions Cloud

Earth would weigh how much on neptune : A proton is initially at rest at a point where the potential is 455V. Sometime later the proton is at a point where the potential is 191V. If no force but the electrostatic force acts on the proton, what is its final kinetic energy.
Innovation for nursing practice : Create an innovation for nursing practice that you would like to see your peers adopt.
How long does it take to decrease the capacitors charge : Two positive point charges are a fixed distance apart. The sum of their charges is QT. What charge should each have in order to (a) maximize an electric force between them, and (b) minimize it.
Determine companies which specialize in computer forensics : What needs clarified? it's plainly stated use google to find 3 companies which specialize in computer forensics of those 3 companies write 2 or 3 paragraphs comparing what each company does.
Create an ice scatterplot : Create an ICE scatterplot and explain your scatterplot.Which quadrant do most of your iterations fall into?What does this mean?
How the suitcase drops out of the luggage compartment : A car travelling at 16 m/s runs out of gas while travelling up a 21 degree slope. How far up the hill would it coast before starting to roll back down.
Technology play in anticipating and managing crisis : What role does technology play in anticipating and managing crisis? What can leaders do in the future to be more effective in a similar situation?
Description of pricing strategy : Determine your optimal pricing strategy if you and your rival believe that the new Jeep is a "special edition" that will be sold only for one year. Would your answer differ if you and your rival were required to resubmit price quotes year after ye..
Write primary advantage of deterministic local area network : Write the primary advantage of a deterministic local area network protocol over a nondeterministic local area network protocol.Give a real-life example of this advantage.

Reviews

Write a Review

Public Economics Questions & Answers

  Health economics assignment

Health economic theory and practice

  How does economics differ from a natural science

How does economics differ from a natural science like chemistry and formal science like mathematics? How is it similar to other social sciences like anthropology and political science?

  Explain why a relatively high value for the former

HPM 522, 1. Consider variables: Pr_Prob and Pr SIDE.   Explain why a relatively high value for the former and a relatively low value for the latter are the input values for the BEST case.

  Role of monitoring and evaluation in quality assurance

Explain the role of monitoring and evaluation in Quality Assurance Discuss Five tools that you can use to effectively monitor the activities of your school

  Discuss one of the ingredients of growth pertinent to todays

Discuss one of the ingredients of growth  pertinent to today's economy

  Does boeing exhibit economies

If Boeing produces 9 jets per month, its long-run total cost is S9 million per month. If produces 10 jets per month, its long run total cost is $9.5 million per month. Does Boeing exhibit economies or diseconomies of scale in producing jets.

  Underperforming economy

Italy is a large European country with a staggering public debt and underperforming economy.

  Theoretical analysis and discussion of economic principles

Theoretical analysis and discussion of economic principles

  Commanding heights project

The purpose of this project is to promote better understanding of globalization, world trade and economic development, including the forces, values, events etc.

  Environmental economics

There are three alternative plans that indicate the benefits and costs associated with the construction of a Manitoba hazardous waste facility (see table on next page).

  What is the producer tax burden

Demonstrate using a consumer's diagram (budget constraints and indifference curves) that a tax on barley that leaves each consumer buying the same amount of barley as before can still create an excess burden.

  What is public enterprise

What is Public Enterprise

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd