MAT/543 MAT543 MAT 543 WEEK 11 EXAM 3

Which is an example related to a part of a decision that is not within the decision maker's control?

Decisions are influenced scientifically by what?

What are the most important aspects resulting from a decision made in the health care industry?

Analytical decision-making can be depicted in which type of pictorial format?

Which method to determine costs involves tracking individuals through intervention?

Which method to determine costs is based on the proportion of time spent on an activity being equal to the proportion of observations made of that particular activity during the work day?

Which method to determine costs involves a trained observer who can determine what type of service is happening at a particular time?

Regardless of the technique chosen to estimate provider times, what should be produced in relation to service times?

What does PERT analysis allow managers to do regarding the use of slack?

To understand and estimate project tasks and predecessor activities, what should managers do?

PERT has multi-system applications for projects of what scale?

The summed time of each activity on the critical path is known as what?

Harris Health is considering the development of a new ambulatory care service.  The project will cost $500,000 to implement and have a useful life of five years.  At the conclusion of the project’s useful life, equipment associated with the project can be sold for $45,000.  Over the five years of operation, incremental revenue attributed to the project will be $180,000 annually, while incremental expenses annually will be $48,000.  The organization is also considering an alternative project of similar risk and time horizon, which has a rate of return equal to 4.5%.  What is the project’s net present value (NPV)?

Harris Health is considering the development of a new ambulatory care service.  The project will cost $500,000 to implement and have a useful life of five years.  At the conclusion of the project’s useful life, equipment associated with the project can be sold for $45,000.  Over the five years of operation, incremental revenue attributed to the project will be $180,000 annually, while incremental expenses annually will be $48,000.  The organization is also considering an alternative project of similar risk and time horizon which has a rate of return equal to 4.5%.  What is the project’s computed internal rate of return (IRR)?

Why is the modified internal rate of return (MIRR) a superior method of assessing a project as opposed to using internal rate of return (IRR)?

Harris Health is considering the development of a new ambulatory care service.  The project will cost $500,000 to implement and have a useful life of five years.  At the conclusion of the project’s useful life, equipment associated with the project can be sold for $45,000.  Over the five years of operation, incremental revenue attributed to the project will be $180,000 annually, while incremental expenses annually will be $48,000.  The organization is also considering an alternative project of similar risk and time horizon which has a rate of return equal to 4.5%. Assume Harris Health has a hurdle rate of 7% for projects of this type. From a financial perspective, should Harris pursue the project?

Which chart is used to describe process, system, and how the system works?

Which quality analysis technique is used to specifically create group consensus?

Which chart is used to illustrate the relationship between two variables and can suggest associative properties?

Which chart is used to illustrate patterns of data collected over time and is intended to indicate patterns?

Which external factor in healthcare strategic planning is concerned with income and education level?

Which external factor in healthcare strategic planning is concerned with natal, mortality, and morbidity statistics?

Based on the data in the chart, what is the primary service area for Hospital A?
 
Community                            Hospital A              Hospital B              Hospital C              Hospital D
West                                       14.65%                   3.19                        63.29                      18.87%  
East                                         17.93                      3.23                        56.31                      22.53     
North                                      9.68                        12.32                      14.74                      63.27
South                                      4.94                        48.00                      9.45                        37.61
Central                                   10.15                      6.83                        30.45                      52.56
Upper                                     5.67                        56.92                      8.62                        28.80
Lower                                     44.39                      1.24                        25.36                      29.01

Which type of planning focuses on a community of population over a 10-year horizon?

Which type of planning focuses on resource allocation decisions to achieve goals and objectives?