Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Develop a simple Markov Model to consider the impact of a new flu vaccine. Run the numbers over the course of five years in a

Develop a simple Markov Model to consider the impact of a new flu vaccine. Run the numbers over the course of five years in a healthy elderly population. Assume that the population is either healthy, or with the flu, and that the flu lasts for one year in terms of its impact on mortality. Without the vaccine, the overall annual mortality rate (if healthy) is 1% and a 20% mortality rate with the flu. The chance of getting the flu with no vaccine is 25%. The chance of getting the flu with the vaccine is 5%. With the vaccine there is a 3% annual mortality rate if healthy and a 8% mortality rate with the flu. Consider a population of 1000 elderly and report the expected difference in average (per person) life years over a 4 year period. Also, report the expected difference in life years using the life table method of correcting for population changes (ie the better version of the half-cycle correctionnote you need 5 years of the model to run it over a 4 year period with the life table method). Explain why the numbers are different and which one is likely to be more accurate.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, J. Mather

8th Edition

0470929383, 978-0470929384

More Books

Students also viewed these Accounting questions

Question

=+2. What is the difference between brand voice and tone?

Answered: 1 week ago