Quantitative Methods 4A16 Unit 4 Assessment
Response has to be a minimum of 200 words.
Q1: What is meant by the production frontier of a system? Provide a specific medical example of this concept. How do production frontiers impact the management of medical systems?
Q2: What is the formula for total costs of a particular service or system? Relate this formula to the management of medical systems, providing at least two specific examples of applications.
Q3: In regression forecasting, what are "regression residuals" and how are they utilized in preparing the best forecast? Provide a specific healthcare example of this concept.
Q4: In regression forecasting, what do we mean when we say that there is linearity in a set of data? As a healthcare manager, why is it important for you to test for linearity of data, and how would you go about this task?