SPREADSHEET MODELS WITH
DECISION ANALYSIS EXAM QUESTIONS
AND CORRECT ANSWERS. VERIFIED
2025/2026.
When creating a spreadsheet model, it is best to keep everything on one sheet to avoid
confusion. - ANS False. Examples of their research showed many different sheets in their
excel file.
Which of the following is NOT typically included as an input to a cost-effectiveness model?
Effectiveness
Costs
ICER
Adverse events - ANS Effectiveness, Costs, and Adverse Effects are all INPUTS. Incremental
Cost Effectiveness Ratio is an OUTPUT. An ICER is controversial, estimates can be highly variable,
proper interpretation not always straight forward.
In a cost-effectiveness model, it is better to use median overall survival than mean overall
survival. - ANS False. Median costs are rarely used. The mean is a measure of central
tendency often used in CE models, primary total cost can be directly computed from the mean,
mean may better reflect the societal perspective because society must pay all costs incurred
including a small proportion of very large ones. Mean-based ICER enjoys a solid foundation
based on welfare economics. Median- is simple, informative summary measure less sensitive to
outliers and erroneous data. Median is more commonly reported than mean in housing price,
mortgage, income, salary statistics.
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
DECISION ANALYSIS EXAM QUESTIONS
AND CORRECT ANSWERS. VERIFIED
2025/2026.
When creating a spreadsheet model, it is best to keep everything on one sheet to avoid
confusion. - ANS False. Examples of their research showed many different sheets in their
excel file.
Which of the following is NOT typically included as an input to a cost-effectiveness model?
Effectiveness
Costs
ICER
Adverse events - ANS Effectiveness, Costs, and Adverse Effects are all INPUTS. Incremental
Cost Effectiveness Ratio is an OUTPUT. An ICER is controversial, estimates can be highly variable,
proper interpretation not always straight forward.
In a cost-effectiveness model, it is better to use median overall survival than mean overall
survival. - ANS False. Median costs are rarely used. The mean is a measure of central
tendency often used in CE models, primary total cost can be directly computed from the mean,
mean may better reflect the societal perspective because society must pay all costs incurred
including a small proportion of very large ones. Mean-based ICER enjoys a solid foundation
based on welfare economics. Median- is simple, informative summary measure less sensitive to
outliers and erroneous data. Median is more commonly reported than mean in housing price,
mortgage, income, salary statistics.
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED.
