Question: Use the information below to help me answer the following questions please! Cost Effectiveness Current Treatment $100,000 4 life-years gained New Treatment $250,000 10 life-years

Use the information below to help me answer the following questions please!

Cost Effectiveness

Current Treatment $100,000 4 life-years gained

New Treatment $250,000 10 life-years gained

1) Calculate the ICER for the new treatment, assuming that the new treatment is being considered to replace the old one.

2) In what quadrant is the ICER located in Figure 3-4 (of the textbook or slide 47 of the Chapter 3 ppt)? Is further cost effectiveness analysis required to decide on treatment adoption?

3) How does the answer to #2 change if the cost of the new treatment equals $75,000?

3) What are meant by the third variable problem and reverse causation?

b) Apply these concepts to the observed statistical associations between years of education and better health. Give your opinion and reasoning as to whether this is causation or correlation

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