WHY AVERAGES ARE MEDIOCRE FOR HEALTHCARE PLANNING... SOME STATISTICAL CONSIDERATIONS FOR POPULATION
The recent $1.5B Powerball® jackpot prompted people across the US to talk about statistics, even if they did so unwittingly. “The jackpot is so big compared to the number of possible combinations that it is almost a good investment,” was a common water cooler refrain. While the merits and inequities of lotteries should be debated, the need for managers to properly understand statistics and probability is a sure bet. Perhaps nowhere is this need strongest than in provider-base