Dictionary
The Dictionary provides concise definitions of health economics terms, arranged alphabetically for quick reference. Use it to understand unfamiliar terminology or confirm the meaning of a specific term.
D
- Data VisualisationData Visualization, Information Graphics
- In health economics and analytics, the graphical presentation of data to reveal patterns, relationships and uncertainty, such as plotting probabilistic sensitivity analysis results or quality-control trends.
I
- IterationMonte Carlo Draw, Simulation Pass
- A single completed pass through a simulation model's calculations, typically using one randomly sampled set of parameter values in probabilistic sensitivity analysis.
P
- Probabilistic Sensitivity AnalysisPSA, Probabilistic Analysis
- Probabilistic sensitivity analysis (PSA) characterises parameter uncertainty by assigning probability distributions to uncertain model inputs and propagating joint samples through the model.
- Probability DistributionStatistical Distribution, Distribution Function
- In health economics, a mathematical function describing the probabilities of the possible values of an uncertain quantity, used to represent parameter and individual-level variation in economic models and probabilistic sensitivity analysis.
R
- Random Number GenerationRNG, Random Draw Generation
- Random number generation supplies the uncertain draws used in probabilistic sensitivity analysis, microsimulation, discrete-event simulation, bootstrap procedures, and other stochastic analyses.
S
- Scatter PlotScatter Diagram, Scattergram, Scatter Chart
- A graphical display showing individual data points along two axes, commonly used to plot probabilistic sensitivity analysis results on the cost-effectiveness plane.