Either way, based on NYC, 0.5% might be a hard lower bound on the all-population fatality rate (of course, maybe NYC is not a representative sample for some reason)
Therefore, we have to take out the cases that occurred in the last week or two. I would suspect that 50% is on the upper end of how much the death lag could skew the results, but 20-50% doesn't seem unreasonable.
Also your 50% seems very high to me. My understanding is that 50% is about the death rate of covid patients requiring ventilation, so the overall death rate of people hospitalised for covid must be well below that.
Also if you factor this timing impact, you have the same timing impact on the denominator, i.e. people who are infected but haven't developped antibodies yet.
[1] https://youtu.be/TisDYYWJgBA?t=967
[edit] in fact for the 50%, we have an idea from Cuomo's presentation charts. The gross daily hostpitalisation rate as of 10-15 days ago was about 2000-2500 per day, and the number of death now is about 500 per day, so that suggests roughly a 20-25% death rate for hospitalised people (I am sure there must be some more precise figures somewhere).
IMO the two effects probably about cancel each other out and we’re looking at <1% IFR for the population tested (AFAIK children weren’t included).
USS Theodore Roosevelt - 600 cases out of 4800. 5 sick, one dead (41 years old). which means hospitalisation is at 0.83% and CFR is 0.016% (1% dead or in hospital). Not idea what is the average age, probably around 30-35.
Diamond Princess: 700 of 3711. CFR 1.1%, average age around 50.
What worries me the most though is potential mutations and death rates when you are infected with Covid-19 and flu at the same time (or other pathogens).
https://www.reuters.com/article/us-health-coronavirus-usa-mi...
https://www.nature.com/articles/d41586-020-00885-w?utm_sourc...
0: https://www.nytimes.com/2008/04/20/arts/television/20jens.ht...
1: https://archive.defense.gov/news/newsarticle.aspx?id=15334
2: https://mashable.com/2016/06/23/what-its-really-like-to-live...
0.16%, not 0.016%.
Also, the CFR for Diamond Princess is now up to 1.83%.
Infection fatality rate of the virus could be within 0.5% (because its the one that tries to take into account everyone who has been infected), mortality rate is very likely still the one WHO has published and the third, case fatality rate is ~38% in the US.
Case fatality rate, calculated as "number of deaths" / "number of known cases", usually something like 10% in most countries, although occasionally much lower or higher for the odd country that has really good or really bad testing.
Resolved case fatality rate, calculated as "number of deaths" / "number of recoveries + number of deaths", which has been around 40% in the countries that have been hit hardest for the duration of their outbreaks. Tends to go down after the curve is bent, because it takes people longer to recover than die in most of these cases.
I personally don't see how the test, track and trace efforts that have been touted as the only way to open things up can work with a virus with these characteristics. You would need to test a huge percentage of the population each day with quick results tests and something like that is many months away from being possible assuming it ever would be possible.
Going by the news we have seen, elementary schools could have 80%+ infection rates and fewer deaths that NY has seen. Similarly, are there other factors besides age? (Age feels way more like a proxy.)
r0 is part of the formula for total infected at X/Y/Z date but so is date of initial infection and size of initial infected population.
Research attempting to determine how much of that figure is infected with influenza have found figures like 1/3rd (though with large differences year to year).
Other cases may just need oxygen supplementation, which is more manageable.
It is pretty clear now that Germany is not that far from from Italy in terms of CFR when controlled for age.