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MAKE SURE NO PLAGARISM. Please follow the format attached. 1. How does prescriptive analytics relate to descriptive and predictive analytics? 2. Explain the differences between static and dynamic mode
MAKE SURE NO PLAGARISM. Please follow the format attached.
1. How does prescriptive analytics relate to descriptive and predictive analytics?
2. Explain the differences between static and dynamic models. How can one evolve into the other?
3. What is the difference between an optimistic approach and a pessimistic approach to decision making under assumed uncertainty?
4. Explain why solving problems under uncertainty sometimes involves assuming that the problem is to be solved under conditions of risk.
5. 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.
