100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
OMIS 327 Exam 1 Question and answers already passed R250,73   Add to cart
Quickly navigate to
Preview
  2.  
  3. OMIS
  4.  
  5. OMIS

Exam (elaborations)

OMIS 327 Exam 1 Question and answers already passed

 4 views  0 purchase
  • Course
  • OMIS
  • Institution
  • OMIS

OMIS 327 Exam 1 Question and answers already passed OMIS 327 Exam 1 Descriptive Analytics - correct answer the study and consolidation of historical data Predictive Analytics - correct answer forecasting future outcomes based on patterns in the past data Prescriptive Analytics - corre...

[Show more]

Preview 1 out of 3  pages

Document information

  • November 5, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • omis 327 exam 1
  • omis 327 exam 1 question and answers already passe

Written for

  • OMIS
  • OMIS

Seller

avatar-seller
Academia199

Reviews received

Content preview

OMIS 327 Exam 1
Descriptive Analytics - correct answer ✔the study and consolidation of
historical data


Predictive Analytics - correct answer ✔forecasting future outcomes based on
patterns in the past data


Prescriptive Analytics - correct answer ✔the use of optimization methods


Deterministic Model - correct answer ✔A mathematical model that does not
involve rick or chance; all values are know with complete certainty


Probabilistic Model - correct answer ✔A mathematical model that involve rick
or chance; Values are based on estimates


Decision making under certainty - correct answer ✔the decision maker
knows with certainty the consequences of every alternative or decision choice


Decision making under uncertainty - correct answer ✔the decision maker
does not know all the alternatives, the risks associated with each, or the
consequences of each alternative; use maximax, maximin, or minimax regret
criteria


Decision making under risk - correct answer ✔the decision maker knows the
probabilities of the various outcomes; use EMV method and choose highest
expected monetary value

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 EFT, 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 this summary from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Academia199. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy this summary for R250,73. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75759 documents were sold in the last 30 days

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

Start selling
R250,73
  • (0)
  Buy now