CCC Prescriptive Analytics Relate to Descriptive & Predictive Analytics Question
How does prescriptive analytics relate to descriptive and predictive analytics?
Explain the differences between static and dynamic models. How can one evolve into the other?
- What is the difference between an optimistic approach and a pessimistic approach to decision making under assumed uncertainty?
- Explain why solving problems under uncertainty some- times involves assuming that the problem is to be solved under conditions of risk.
- What is the difference between decision analysis with a single goal and decision analysis with multiple goals (i.e., criteria)? Explain the difficulties that may arise when analyzing multiple goals.
