1. Distinguish between quantitative and qualitative decision making process. 2. Why are models required? 3. Describe the basic types of models. 4. Is OR an art or science? Justify with supportive reasons. 5. When is quantitative analysis required in decision making? 6. Elaborate the application of Operations Research techniques in service giving enterprises. 7. Explain the management science approach to decision making. 8. Identify application areas of Operations Research in business. 9. What are the drawbacks of using quantitative analysis? 10. Briefly explain the criteria of model classification. 11. Give examples of allocation models. 12. Explain the milestones in the development of OR/MS/DS/SS.
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Quantitative decision making involves the use of numerical data and mathematical methods to make decisions. It is objective, logical, and systematic. On the other hand, qualitative decision making involves the use of non-numerical data such as experience, Show more…
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