ADM2302- Final Exam Guide - Comprehensive Notes for the exam ( 58 pages long!)

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> quantitative analysis is an attempt to marshal the pertinent evidence to better inform a given decision making process. > goal is to shift the basis for decisions from gut feeling/experience to a reasoned response to the empirical evidence. > a systematic way of thinking about management and decision making. > all models are a simpli cation of reality - look at whether they contain enough info. to be useful while still being simple enough to be solvable. > the goal of a lot of or research is to expand the frontiers of the size and complexity of the problems that can be solved. > most org. don"t collect all the necessary data for a proper quantitative analysis. > quant. analysis by de nition concentrates on quantitative aspects of a problem. > any quant. analysis must be an aid to decision making rather than the design itself. > the fewer the qualitative aspects to the decision process the better.

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