In a Population Survey of Patients in a Rehabilitation Hospital

question 85

Short Answer

In a population survey of patients in a rehabilitation hospital, the mean length of stay in the hospital was 12.0 weeks with a standard deviation equal to 1.0 week. The distribution was normally distributed.
Out of 100 patients how many would you expect to stay longer than 13 weeks?

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Definitions:

Shutdown Decisions

Decision-making processes within a company regarding when to cease operations temporarily or permanently due to various reasons, such as unprofitability.

Capital

Refers to financial assets or resources that businesses use to fund their operations and growth.

Sunk-cost Fallacy

The misconception of valuing continued investment in a project or decision based on the already incurred costs, irrespective of future benefits.

Fixed Costs

Expenses that do not change with the level of output or sales in the short term, such as rent, salaries, and insurance premiums.