Calculating Expected Value Involves

question 81

Multiple Choice

Calculating expected value involves:

• A) estimating how likely different outcomes are, and estimating the financial implications of each outcome.
• B) predicting the most likely outcome and assuming that that event will occur.
• C) assuming the worst outcome will occur and evaluating the financial implication of that outcome.
• D) None of these statements is true.

---

Definitions:

Industrialization

The process by which an economy is transformed from primarily agricultural to one based on the manufacturing of goods.

Mental Health Care

The provision of services and support to individuals dealing with psychological, emotional, or behavioral issues.

Utilization Review

The process of evaluating the necessity, appropriateness, and efficiency of the use of healthcare services, procedures, and facilities.

Outpatient Care

Medical treatment provided that does not require an overnight stay in a hospital or medical facility.