Question: 1. (a) What are the prescriptive models in business analytics? How do prescriptive models differ from predictive models? Give a real world example of a
1. (a) What are the prescriptive models in business analytics? How do prescriptive models differ from predictive models? Give a real world example of a prescriptive model and explain why it is not a predictive model.
(b) What are the data queries in Excel? Give a real world example where using a data query is useful. Answer in at least eight sentences.
(c) Briefly explain different methods used for visualizing categorical data and their relative merits. Answer in at least ten sentences.
(d) Explain the basic concept of cause-and-effect modeling. Give a real world example when this approach is useful.
(e) Briefly describe the Delphi method in forecasting techniques. Why is it a useful technique? Give a real world example where using the Delphi method is appropriate. Explain in at least eight sentences.
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