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Introduction to Health Economics

question 1 of 2 course: Bachelor of Science in Health Services Management and Planning
question 1 of 2 course: Bachelor of Science in Health Services Management and Planning

Q: Health economics is primarily concerned with how scarce resources are allocated in the health sector.

Did You Know?

Among unbiased estimators, the one with the smaller variance is more efficient (precise). μ̂₁ has variance σ²/4. μ̂₂ has variance (1/64)σ² + (1/64)σ² + (1/16)σ² + (1/4)σ² = σ²*(1/32+1/32+1/16+1/4) = σ²*(0.03125+0.03125+0.0625+0.25) = 0.375σ², which is larger than σ²/4 = 0.25σ². Therefore μ̂₁ is more efficient.

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Did You Know?

Among unbiased estimators, the one with the smaller variance is more efficient (precise). μ̂₁ has variance σ²/4. μ̂₂ has variance (1/64)σ² + (1/64)σ² + (1/16)σ² + (1/4)σ² = σ²*(1/32+1/32+1/16+1/4) = σ²*(0.03125+0.03125+0.0625+0.25) = 0.375σ², which is larger than σ²/4 = 0.25σ². Therefore μ̂₁ is more efficient.

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