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Wondered about such things and just looked into the subject.

In simple terms, here in the US, we only have a little data. E.g., apparently a big fraction of the data we have closely relevant to these questions is in a US CDC report

"Severe Outcomes Among Patients with Coronavirus Disease 2019 (COVID-19) — United States, February 12–March 16, 2020"

that is, to essentially the present and only 4 days more than a month.

Can see the report with a lot of words with actual numerical values at

https://www.cdc.gov/mmwr/volumes/69/wr/mm6912e2.htm

and, then, can see their graph of hospitalizations, ICU admissions, and deaths by age in Figure 2 at

https://www.cdc.gov/mmwr/volumes/69/wr/mm6912e2.htm#F1_down

For how many people are infected, tough to know before we test a good simple random sample with a good test. From some of what Dr. Brix said recently, our test(s) "amplifies* the genetic code and sequences that.

If I understand correctly, the amplification is via the PCR where From Google,

"Polymerase chain reaction (PCR) is a method widely used in molecular biology to rapidly make millions to billions of copies of a specific DNA sample allowing scientists to take a very small sample of DNA and amplify it to a large enough amount to study in detail. PCR was invented in 1983 by Kary Mullis."

So, the test is not trivial, is some microbiology that, say, before 1983 would have seems impossible.

Next Dr. Brix has indicated that the US is very careful about the rates of false positives and false negatives of the tests they use.

Still, for now, apparently we don't know how many people in the US are (or have been) infected.

But from the CDC data above, we have some okay data (numbers are still small for accurate statistical estimates) by age of the fraction of hospital admissions with the virus that got into an ICU and then the fraction that died.

Considering the US population over 65, how big is that?

Uh, from Google search

"US population over 65"

get

"49.2 million

In the United States, the population age 65 and over numbered 49.2 million in 2016 (the most recent year for which data are available). They represented 15.2% of the population, about one in every seven Americans."

So, the US has to try hard to stop the spread of the virus or, ballpark, the US is looking at about 50 million citizens (a) nearly all of whom would get the virus and (b) a significant fraction of whom would die if they are like the people in the data who got the virus and were admitted to a hospital.

Net, bottom line, if extrapolate from that CDC data, then the US has to be careful or a lot of people over 65 could die:

In more detail, from the reference with the words,

"This first preliminary description of outcomes among patients with COVID-19 in the United States indicates that fatality was highest in persons aged =85, ranging from 10% to 27%, followed by 3% to 11% among persons aged 65–84 years, 1% to 3% among persons aged 55-64 years, <1% among persons aged 20–54 years, and no fatalities among persons aged =19 years."

Or, it could be > 3% dead of people over 65.

So, 3% dead of 50 million would be 1.5 million. If want to use the 10% number in the CDC text, then that would be 5 million dead.

So, hurry up step #1 is to slow the spread of the virus by a lot of social distancing and hand washing.

Hurry up step #2 is look for cures by (a) trying old drugs to see if any are effective against the virus, (b) get some antibodies from some people already cured from the virus and see if those antibodies can be the basis of a cure, (c) starting with the microbiology, e.g., the molecular geometry, of part of the virus, try to construct an antibody.

Step #3 -- ASAP get a safe and effective vaccine and give nearly everyone a shot.

In case #1 to #3 happen too slowly, do #4, get hospitals ready for lots more patients.

Unlike some other diseases, some good news about this virus is that everyone who gets the virus can transmit it for only a few weeks.

So, in simple terms, if the world would be 100% effective at social distancing for a few weeks, then the world would be free of the virus! And if the world is close to 100% effective, then the world will still be free of the virus soon!



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