Parameter | Estimates |
---|---|
Population size, N | 4000 |
Prior mean, μ0=λ(μTP−μOD), ($) | 96000 |
Prior variance, \(\sigma _{0}^{2}=\lambda ^{2}\left (\sigma ^{2}_{0,\text {TP}}+\sigma ^{2}_{0,\text {OD}}\right)\), ($) | (49638)2 |
Sample variance, \(\tau ^{2}=2\lambda ^{2}\left (\sigma ^{2}_{\text {TP}}+\sigma ^{2}_{\text {OD}}\right)\), ($) | (363202)2 |
Cost of conducting the trial per patient, c1, ($) | 5000 |
Cost of treating a patient, c2=c2,TP−c2,OD, ($) | 61032 |
Fixed financial cost incurred from conducting the trial, c f , ($) | 1 million |