Calculation of Means and Comparison of Means
To prepare for this first Final Project assignment, it is suggested that you first review pertinent information that was presented in previous weeks of this course (e.g., topics related to measure of central tendency).
To complete the assignment, examine the data provided in the VirginiaHospitals_2001-2005 database. Save a version of this Microsoft Excel document to use to complete your assignment.
Next, calculate the mean for each of the variables below for the year 2001:
Total Operating Expense
Net Charity Care
Bad Debt Expenses
*Occupancy must be calculated as Patient Days/(Licensed Beds X 365).
Then, calculate the mean for the same set of variables for the year 2005.
Finally, compute the changes between the two sets of means (for 2001 and 2005) and test for significant differences using a comparison of means test.
Note: Your version of Microsoft Excel may differ, but many students will be able to do this test by clicking on Tools, Data Analysis, t-Test Paired Two Sample for Means.
Once you have performed all of the above tasks, use the resultant data to complete the written analysis portion of this assignment, for which you will need to submit the following:
A Microsoft Excel table that shows the calculated values for each year and the differences in means.
A Microsoft Word document that includes:
A paragraph that summarizes these changes and reports the statistical significance of the differences between 2001 and 2005 for each of the above variables. (Indicate significance or no significance both in the Microsoft Excel table and in this paragraph.)
A one-half to 1 page that addresses the following: What can you conclude about the data? What are some implications for health care professionals regarding the performance of hospitals in this state in the period from 2001 through 2005? Provide your rationale