Posted: September 12th, 2022

DSS315Dis1

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please include the questions and put answers in red

  1. Define quantitative analysis. What are some of the organizations that support the use of the scientific approach? Why?
  2. What are the three categories of business analytics? What are the differences?
  3. What is the quantitative analysis process? When is this process used? Give several examples of this process.
  4. Give some examples of various types of models. What is a mathematical model? When is it used? Develop two examples of mathematical models.
  5. List some sources of input data. What are the differences? What is the “best” data to obtain?
  6. What is implementation, and why is it important?
  7. 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.
  8. Why do you think any quantitative analysts don’t like to participate in the implementation process? What could be done to change this attitude?
  9. Should people who will be using the results of a new quantitative model become involved in the technical aspects of the problem-solving procedure?

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