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Dolores Van de Laer and her husband, Harry, recently had an in-ground pool constructed in their backyard. To protect their seven children, they hired Ruth, a certified lifeguard, to teach the family proper swimming techniques and basic rescue procedures. From the beginning, Ruth had difficulty keeping the older children in line while she assisted the younger ones. She complained to Dolores and Harry, and even though they spoke to the children, the situation did not improve. After a few lessons, Ruth told the Van de Laers that she could not take it anymore and that she had arranged to have her friend Kirk, also a certified lifeguard, replace her as their swimming instructor. Dolores and Harry grudgingly agreed to the new arrangement. They soon discovered that Kirk was great with all of the children and that he was also experienced at pool maintenance. Neither Dolores nor Harry had much luck keeping the pool's pH balanced, so they instructed Kirk to take over that responsibility as well. Later that summer, Kirk bumped into Ruth at a friend's pool party. When she asked how the job was going, Ruth was surprised to learn that Kirk was disappointed with the pay. Ruth had thought the pay was quite good, but apparently the Van de Laers were paying Kirk $50 less per week than they had promised Ruth. When Kirk learned this, he was outraged that the Van de Laers had taken advantage of him. The next day, before beginning the lesson, Kirk spoke with Dolores and demanded to receive the money she owed him under the original agreement with Ruth. Additionally, he asked for an extra $25 per week as payment for the pool maintenance. Dolores refused to pay Kirk any extra money. She claims that the original agreement with Ruth was discharged by agreement and that a new one with different rights and obligations was created with Kirk. Kirk, however, argues that there was a novation and that he adopted the same rights and obligations that existed under the old contract. Analyze each party's argument. Do you think Kirk is entitled to more money? Explain your answer.
+ 75% High-school dropout rates and performance at graduation by score at entrance exam Grade at entrance exam Percent that dropped out from Score on the final exam at - cutoff score for admission high school end of high school 50 0 0 62 elite schools Admitted in 0.53 0.45 51.0 0.50 4810 0 30 0.20 Not admitted in elite schools 42 5 0.25 0.17 45.0 011 Source: Adapted from the analysis of de lanwry, Dustan, Sadoulet (b) Draw two regression lines (Excel commands: Chart, Add linear trend line in Excel, Display equation on graph) separately for the points above the cutoff score (i.e., for those admitted to the elite schools) and for those below the cutoff score (i.e., not admitted to elite schools). Measure the "discontinuity" that you observe at the limit at the point where students were just admitted, i.e., the vertical difference in the two trend lines evaluated at the cutoff. (c) Explain why this may be a credible measure of the causal impact of attending an elite school on the risk of not graduating from high school. In what sense is it a "local" treatment effect? What are some of the factors that might lead to a different impact for students with entrance exam scores far above the cutoff? (d) Repeat the analysis as in question (1b) using the score on the final exam at the end of high school as the dependent variable. Report the impact of attending an elite school on final exam scores at the end of high school. (e) Discuss the trade-off faced by students upon deciding whether to attend an elite school. (f) What is the condition for the validity of this method, and what does this imply about the characteristics of individuals around the cutoff? Discuss what data would you need to have to test that this condition applies and what analysis would you do to support it. Report your results using two graphs: one for the graduation rate and the other for the score on the final exam at the end of high school.Question 7 5 pts What is the method(s) not used in assessing Project Risk? Sensitivity Analysis Break Even Analysis @. Scenario Analysis Cost Benefit Analysis Question 8 5 pts When calculating the Break Even Analysis, one needs to subtract the FW of the cash inflows from the PW of the cash outflows. True False D Question 9 5 pts Scenario Analysis usually does not consider; Worst Case Scenario Do Nothing Scenario Most Likely Case Scenario Best Case Scenario O1. Explain what evaluative criteria are in general and how they are used. Then define the criteria discussed in Chapter 6. 2. When is cost-benefit analysis used? How is it done? How is cost-effectiveness analysis different? 3. Define opportunity cost, discount rate, and contingent 1vraluation methods (all related to cost- benefit analysis). 4. How do analysts evaluate risks or potential impact of polio}.r proposals? 5. Explain how forecasting and projections are used in policy analysis. ure.com/courses/2279641/quizzes/4468473/take O Cost Benefit Analysis O Cost Of Illness Studies Cost Of Price Economics Analysis Question 8 4 pts A market failure is a situation in which a market fails to produce the socially optimal level of output for the consumer markets O Truc O False D Question 9 4 pts The Medicare pay-as-you-go system is jeopardized by The rising costs of long-term care. e 9 DOLLFormal systems thinking tools for management include all of the following except: O A. Learning laboratories B. Systems archetypes C. Diagrams that portray organizational performance over time D. Simulation modeling E. Cost-benefit analysis QUESTION 8 The industry to first adopt quality improvement (QI) techniques was: A. Aviation B. Manufacturing and service C. Academia D. Public health E. Health care delivery QUESTION 9 Approximately what percentage of health care expenditures in the United States is made for public health services? A. 5% B. 1% C. 20% D. 15% E. 10%
