Posted: September 12th, 2022
answer all questions in word doc
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- Define quantitative analysis. What are some of the organizations that support the use of the scientific approach? Why?
- What are the three categories of business analytics? What are the differences?
- What is the quantitative analysis process? When is this process used? Give several examples of this process.
- Give some examples of various types of models. What is a mathematical model? When is it used? Develop two examples of mathematical models.
- List some sources of input data. What are the differences? What is the “best” data to obtain?
- What is implementation, and why is it important?
- Managers are quick to claim that quantitative analysts talk to them in a jargon that does not sound like English. List four terms that might not be understood by a manager. Then explain in nontechnical language what each term means.
- Why do you think any quantitative analysts don’t like to participate in the implementation process? What could be done to change this attitude?
- Should people who will be using the results of a new quantitative model become involved in the technical aspects of the problem-solving procedure?