Ranking everyone by the amount spent on medical care 30


Ranking everyone by the amount spent on medical care, 30 percent of the total (all expenditures for all people) is accounted for by the top 1 percent of patients. Take the overall average per capita personal health expenditure and determine how much on average is spent on each of these high-cost patients. The top half of the population accounts for 90 percent of total spending. What is the average amount spent on the remaining people in the bottom half of the distribution? Is the median (i.e., amount spent on the person who is at the middle of distribution, with half of all people spending more, and half of all people spending less) higher or lower than the mean?

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Business Economics: Ranking everyone by the amount spent on medical care 30
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