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Pareto charts. Pareto charts are bar graphs with the bars ordered by height. They are often used to isolate the "vital few" categories on which we should focus our attention. Here is an example. A large medical center, financially pressed by restrictions on reimbursement by insurers and the government, looked at losses broken down by diagnosis. Government standards place cases into Diagnostic Related Groups (DRGs). For example, major joint replacements (mostly hip and knee) are DRG 209.4 Here is what the hospital found:
What percent of total losses do these 9 DRGs account for? Make a Pareto chart of losses by DRG. Which DRGs should the hospital study first when attempting to reduce its losses?
An outcome measured on a five-point scale (not at all to always)... is an example of an ordinal variable. has a behavior problem when it comes to residuals.
Stratum 2 contains 500 invoices, stratum 1,000 invoices, and stratum 4 contains 3,450 invoices. A sample of 500 sales invoices is needed. What type of sampling should you do? Why?
Generate a testable null statistical hypothesis and an alternative statistical hypothesis. Select an alpha level of .05, .01, or .001 and justify your choice.
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a professor is interested in how many hours he students spend studying per week. she takes a random sample of 8 of her
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1. The following probability distribution represents the number of people living in a Household (X), and the probability of occurrence (P(X)). Compute the Expected Value (mean), the Variance and the Standard Deviation for this random variable.
Assume that demand for services per period is Pt = 1000 - Qt where Qt is the stock of the durable consumed. Let the discount factor for consumers and the firm be given by δ. Find the profit-maximizing prices and outputs for a durable goods monopol..
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the u.s. air force has designed a missile detection system which will detect 19 out of 20 incoming missiles. if one
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