MAT 543 EXAM 3-FINAL - Essay Prowess



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Question 1 5 out of 5 points

Analytical decision-making can be depicted in which type of pictorial format?
In instances where no information about the probability of the future is available, how should probabilities be set?
Decision makers will be effective if they forgo trying to control which aspect of the decision-making process?
What is a required component to consider for every decision?
Which method to determine costs involves using a provider-based approach?
How is the cost-effectiveness of an intervention defined?
Regardless of the technique chosen to estimate provider times, what should be produced in relation to service times?
If service times are clustered about one number and look symmetric, how large of a sample may be sufficient as a basis for estimating mean service time?
What does TSPR stand for?
What does PERT analysis allow managers to do regarding the use of slack?
What is known as the difference between the earliest and latest start times for an activity?
A health care project manager will be sorely disappointed if he holds which belief to be true once a project is finally determined?
How is a hurdle rate used in practice inside of an organization?
What is meant by an organization’s hurdle rate?
How is the modified rate of return (MIRR) calculated?
Assume a prevailing discount rate of 7%, what is the computed internal rate of return (IRR) for this series of cash flows? 
Year                                Cash Flow
CY                                    ($450,000)
CY + 1                             $79,000
CY + 2                             $125,000
CY + 3                             $140,000
CY + 4                             $135,000
CY + 5                             $45,000
Which quality analysis technique is used to specifically create group consensus?
Which chart provides upper and lower limits that are used for examining variations to determine if system changes are needed?
Total Quality Management (TQM) is based on the premise that any system exhibits a natural level of what?
Which chart is used to describe process, system, and how the system works?
Which type of planning focuses on resource allocation decisions to achieve goals and objectives?
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

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