Probability

question 49

Multiple Choice

Probability

• A)is a number between 0 and 1, inclusive.
• B)indicates how likely an outcome is to occur.
• C)is larger the more likely the event is to occur.
• D)All of the above.

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Definitions:

Gross Collection Ratio Formula

A financial metric used in healthcare to measure the percentage of total charges collected out of the total charges billed to patients and insurance companies.

Total Charges

The complete amount of money required or demanded for a service or goods, often including all additional fees and taxes.

Operating Information

The information that is needed on a day-to-day basis in order for a company to conduct business.

Day-To-Day Basis

Refers to the routine or daily activities and tasks that are performed regularly.