2. Severely ill patients who were hospitalized with pneumonia were placed on a new pharmaceutical drug. The medicine resulted in an extra day of hospitalization (the length of stay went from 6 to 7 days). The daily cost for a hospital stay is $1,600. The drug costs $600 for the dose. Also, administering the medication and monitoring the patient after treatment takes an additional hour of nursing time (wage = $40 per hour], and $20 in supplies was used in administering the drug. The mortality rate for patients using the drug was 20% and 24% for those that didn't. Hint: to calculate the initial costs, take the initial cost of stay and multiple it by the number of hospital days without the drug. To calculate the cost of the drug treatment, you will add up the costs of the hospital stay and all additional costs of the medication. Also, make sure to convert your mortality rate percentages to decimals. a. What is the cost-effectiveness ratio for using the medicine? (worth 40 points)