100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
DSCI: Exam 1 Questions With All Complete And Verified Solutions. $12.99   Add to cart

Exam (elaborations)

DSCI: Exam 1 Questions With All Complete And Verified Solutions.

 7 views  0 purchase
  • Course
  • DSCI
  • Institution
  • DSCI

Describe the quantitative analysis approach - correct answer -the process of analyze information to make final decision. Include unpredictable things that affect the decision-making process (weather, state, federal legislation Understand the application of qu...

[Show more]

Preview 1 out of 4  pages

  • October 4, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • DSCI
  • DSCI
avatar-seller
RealGrades
DSCI: Exam 1

Describe the quantitative analysis approach - correct answer -the process of analyze
information to make final decision. Include unpredictable things that affect the decision-making process
(weather, state, federal legislation



Understand the application of quantitative analysis approach in real situation.

The 7 step of QA approach: - correct answer +Define the problem

+Develop a model

+Acquire input data

+Develop a solution

+Test the solution

+Analyze the results

+Implement the results.



Possible problem in using quantitative analysis - correct answer +Expensive and
time consuming to develop and test.

+misused and understood because of complexity.

+downplay the role and value of non quantifiable information.

+oversimplify variable of the real world.



6 steps of decision making process - correct answer 1. State the situation

2. List the options

3. Weigh the possible outcomes

4 List payoffs for each state of decision alternative combination

5. select one of the decision theory models

6. Apply the model and make decision

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller RealGrades. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

71184 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$12.99
  • (0)
  Add to cart