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1) Compared with a drip system, a new type of infusion pump reduces the cost of administering chemotherapy from $25 per dose to $20 per dose

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1) Compared with a drip system, a new type of infusion pump reduces the cost of administering chemotherapy from $25 per dose to $20 per dose. The complication rate of each system is 2 percent. Which should you choose? What sort of analysis should you do?

2) After making your choice in the previous problem, you discover an infusion pump with a dosage monitoring system costs $15 per dose. Its monitoring functions reduce the complication rate to 1 percent. Which of the three options do you prefer? What principle does this illustrate?