Econ Exam 3

WOTF is not a type of sensitivity analysis?

• tornado diagram

• one way analysis

• multi way analysis

• ICER

• threshold analysis

1. A choice node; 2. chance node; 3. terminal node:

• terminal node

• types of node on decision tree

• decision points

• decision analysis

• first step in a decision analysis

the specific decision to be evaluated should be clearly defined:

• terminal node

• first step in a decision analysis

• decision points

• types of nodes on decision tree

• decision analysis

the application of an analytical method for systematically comparing different decision options:

• terminal node

• first step in a decision analysis

• decision points

• types of nodes on decision tree

• decision analysis

regarding the number and length of cycles in markov models, WOTF statements are true?

• number of cycles depends on clinical relevance

• cycle length depends on the disease being modeled

• for chronic diseases, a cycle length of 1 year is commonly used

• all of the above

regarding transition probabilities in markov models:

• transition probabilities are used to the % of patient who are likely to move from one health state to another state during each cycle

• transitions probability values usually come from previous research or expert panel estimates

• transition probabilities are zero when patients are not allowed from one state to another

• all of the above

regarding markovian assumption, WOTF statements is true?

• state transition probabilities accommodate increasing risk by taking into account health state transition history

• state transition probabilities are time dependent

• state transition probabilities are memory less or independent of the history of previous transitions

• state transition probabilities are always equal to 0

• state transition probabilities are always equal to 1

regarding the figure below WORF is true?

• a patient may remain in markov state "well" across the cycles illustrated

• a patient may remain in the markov state "IGT" across the cycles illustrated

• the markov states "well", "IGT", "DM" are all absorbing states

• A and B only

• all of the above

WOTF statements regarding the different pharmacoeconomic models is true?

• decision analytical models employ regression equations

• epidemiological models employ tree figures

• markov state transition models employ health state diagrams

• cost utility is the same as cost minimization analysis

• cost benefit analysis is never appropriate for

  pharmacoeconomic analysis

regarding transitions between health state in markov models, WOTF are true

• possible transitions are determined based on clinical information

• graphically, arrows are used to indicate which transitions are allowed

• an absorbing state indicates that patients cannot move to another state in a later cycle

• B and C

• All of the above