Question: Statement I: Prescriptive analytics uses statistical models and forecasts to ask: What could happen? Statement II: Predictive analytics uses optimization and embedded decision rules and

Statement I: Prescriptive analytics uses statistical models and forecasts to ask: What could happen?
Statement II: Predictive analytics uses optimization and embedded decision rules and simulation to ask: What should we do?
Only Statement I is correct.
Only Statement II is correct.
Both the statements are correct.
Both the statements are incorrect.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

Please solve all the questions below from supply chain analytics subject and give me correct answer options - Q 1 ) Which of the following statements is / are correct? The capability of fulfilling...

Q:

I want you to summerize these 7 items. !Please be different from other answers! !Please get a little quick! Thanks. You should summarize the 7 items in the photo. Max 125 words! reading 1....

Q:

You should summarize the 7 items in the photos. Max.250 words! !Different answer another chegg answer please! 1. Introduction currently missing from the literature (Trioman et al. 2010: De mirkan and...

Q:

Please solve all the questions below from supply chain analytics subject and give me correct answer options - Q 1 ) Which of the following statements is / are correct? The capability of fulfilling...

Q:

Can you please answer this questions below QUESTION 1 The key to any successful report is clarity, ____, completeness, and correctness. a. actuality b. longevity c. brevity 2 points QUESTION 2 A is a...

Q:

Explain the difference between descriptive, predictive, and prescriptive analytics. Textbook: model is learned, current data can be fed into the model to forecast the probability of future outcomes....

Q:

This chapter presents students and early career executives with a sound understanding of theory. Theory is explored in terms of both anatomy (parts of the whole) and physiology (relationships with...

Q:

Chapter 2 User-Centered Systems Design: A Brief History Abstract The intention of this book is to help you think about design from a user-centered perspective. Our aim is to help you understand what...

Q:

The current issue and full text archive of this journal is available at www.emeraldinsight.com/0957-4093.htm IJLM 17,3 Realities of supply chain collaboration 312 Tilburg University, Tilburg, The...

Q:

. Requred: Question: make 8 slide of power point presentation on the above case study Rapid advances in machine learning (ML) that is a or click-through conversions are giving way to more machine's...

Q:

On January 1, 2020, COLOR Company granted 250 share options to 300 employees, conditional upon the employees remaining in the entity's employ during the vesting period. The share options will vest...

Q:

Determine the heat transfer coefficient at the stagnation point and the average value of the heat transfer coefficient for a single 5-cm-OD, 60-cm-long tube in cross-flow. The temperature of the tube...

Q:

Question 1 5 ( 1 0 points ) Saved If the market price of a firm's output is correlated with its investment needs, the firm should a ) Underhedge, if at all, because it will have higher cashflows...

Q:

Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,950 gallons @ $9.10 per gallon = $17,745 Purchases: Sales: Mar. 10 790 gals @ $ 9.15 Mar. 5 590 gals Mar. 16...