CammIMS$161.$E$\mathrm{.}003.$

Discuss the different roles played by the qualitative and quantitative approaches to managerial decision making. Why is it important for a manager or decision maker to have a good understanding of both of these approaches to decision making?

For each of the following statements, decide whether it is characteristic of a qualitative and$/$or a quantitative approach. $($Select all that apply.$)$

$($a$)$

This approach is primarily based on a manager's judgment or intuition.

qualitativequantitative

$($b$)$

This approach is considered more of an art than a science.

qualitativequantitative

$($c$)$

This approach is best suited to solve relatively simple problems, and could be informed by prior experience.

qualitativequantitative

$($d$)$

This approach is best suited to solve complex problems, and relies heavily on available data.

qualitativequantitative

$($e$)$

A manager can increase his or her decision$-$making effectiveness by studying and applying this approach.

qualitativequantitative

$($f$)$

An experienced manager will employ this approach to optimize business decisions and processes.

qualitativequantitative