Pasadena Bay Hospital Reports an Average LOS in February of 3.7

question 621

Multiple Choice

Pasadena Bay Hospital reports an average LOS in February of 3.7 days with a standard deviation of 20. This tells us that

• A) most patients had a LOS of 3 to 4 days.
• B) there was a small variation in the LOS.
• C) patients at Pasadena Bay stay longer than average.
• D) there was a large variation in the LOS.

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Definitions:

Materials Costs

These are the costs associated with the raw materials used in the manufacture of products or the provision of services.

Overtime

Additional hours worked beyond the standard working hours, often compensated at a higher pay rate than regular hours.

Rate Variance

Rate Variance is the difference between the standard cost and actual cost paid for something, often analyzed in budgeting to manage financial performance.

Budget Reports

Budget Reports compare the actual financial operations against the planned or budgeted figures to help in financial planning and control.