be IH 2 Abbccdet Abcdere 2-A- a AaBbCcDc ABCDE Heading Heading 2 Norma Na Spor Please answer the following questions to the best of your abilities. If necessary, please list the formula you are using to solve a particular problem (questions 5-7, and the equation comes from the model developed in the textbook). These questions are pulled from the text and the syllabus. 1 1. What is the difference between qualitative and quantitative analysis? Please provide an example of each. 2. What is sensitivity analysis and what is it used for? 3. What are the steps in the QA process? Which do you think is most important and why? 4. What are some (2-3) potential challenges that you might run into when undertaking a business analytics project? 5. You start your own business selling t-shirts with funny slogans Your first t-shirt says "New England, because Old England was wicked dumb". The equipment required for printing the t- shirts cost you $1000/month to rent, and you can obtain plain t-shirts and the ink to print on them for $10 each. If you plan to sell your t-shirts for $18 each, how many must you sell each month to break even? 6. Using the information from the previous question, if you could find a cheaper supplier so that each t-shirt cost you 58 each, how many fewer would you need to sell in order to break even? 7. You got into the t-shirt making game because you wanted to turn a profit. Each month, to ensure that you have enough money for rent and food, you need to have a profit of S1500. Using the information from question S, how many t-shirts must you sell each month to achieve your target profit of $1500? MacBook Air