Qventus Inc. Program Effectiveness Analysis - Data Analysis Task

Dataset Information

According to research (Bloomberg, 2018), close to one million hospital patients fall each year, costing an average of over $30,000 in medical expenses per fall. To help reduce this cost and the number of falls, a company called Qventus Inc. developed a program that takes information, such as bed alarms, medical records, age and medication, to predict patients who are likely to fall and sends an alert to nurses to check in on these patients. A random sample of hospitals reported the number of falls both before and after the program was implemented. Your job is to analyze the data to determine if the program was effective or not. 

 

There are two datasets:

1. Before. This is the dataset that provides the number of falls before the Qventus Inc. program was implemented.

2. After. This is the dataset that provides the number of falls after the Qventus Inc. program was implemented. The purposes of this project are to (1) develop your Excel skills, (2) apply concepts you learned from the course, and (3) critically think about and analyze data.

 

Due date and information on how to submit the assignment 
1. Please see the syllabus for the due date. 
2. Submit (1) your Excel file and (2) a Word file (please, NO PDFs!) with your responses and recommendations to Kristin via email

3. If you choose to complete this assignment with a team, please let me know. Include names of everyone included on the team project. Note: You should all be doing all the tasks and answering all the questions; I do not advise you to divide and conquer, as you will not learn as much. Remember, the projects help prepare you for the exam, so you will need to know how to do the following tasks for the exam. 

1. Your first task is to merge the two Excel files into one sheet in an Excel file using the VLOOKUP function in Excel. 
a. Include columns that show your formulas for how you merged your files using the VLOOKUP function. 

 

2. Calculate descriptive statistics for both “Before” and “After” using the Data Analysis tool under the Data tab. 
a. Report the (1) the measures of central tendency and (2) dispersion. 
b. Given this information, do you think the Qventus Inc. program is effective? Explain. 

 

3. Analyze the data.

a. What type of analysis do you need to perform? Justify your decision. 

b. Is this a one- or two-tailed test? Explain. 
c. State the null hypothesis.
d. State the alternative hypothesis. 
e. Interpret the results using the critical value.
i. Report the test statistic.
ii. Report the critical value. 
iii. Based on the test statistic and critical values, what is your conclusion? 
f. Interpret the results using the p value.
i. Report the p value. 
ii. Interpret the p value.
iii. Based on the p value, what is your conclusion?
g. Given the average cost of $30,000 per fall and the data, what is the maximum price the hospital should pay for the program in order to be profitable? Explain.
h. Do you think the new software program is a good investment or not? Explain.