The hospital administrators at New Hope, County General, and City East recently received notice of an impending state inspection of their facilities. Under new guidelines established to improve the overall health care system, state inspectors will be assessing the efficiency of each hospital. The staff at New Hope has suggested a mutual assistance program in preparation for the inspections and have proposed using DEA as a means to assess the efficiency of each facility. The data collected thus far is summarized in the following table. All data reflects averages compiled over the past six months.
a.Formulate a DEA LP model to evaluate the efficiency of City East.
b.Implement a spreadsheet model for this problem and compute the DEA efficiency for each facility. Which facilities are efficient?
Definitions:
Group Profits
The combined earnings of a conglomerate or group of companies under a single parent corporation.
Price Conspiracy
An illegal agreement among competitors to fix prices, control market production, or divide markets to eliminate competition and harm consumers.
Monopoly Market
A market structure characterized by a single seller offering a unique product or service with no close substitutes.
Herfindahl-Hirschman Index
An indicator used to assess the degree of market concentration and establish the intensity of industry competition.
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