Sensitivity Analysis,what-If Analysis,and Market-Basket Analysis Are the Three Quantitative Models

question 15

True/False

Sensitivity analysis,what-if analysis,and market-basket analysis are the three quantitative models typically used by a DSS.

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Definitions:

Statistical Analysis

The process of collecting, examining, summarizing, and interpreting data to gain insights and support decision making.

Quantitative Data

Numerical information that can be measured and analyzed statistically.

Mainstream

Ideas, attitudes, or activities that are regarded as normal or conventional by the majority of people in a society.

Cognitive Psychology

A branch of psychology focused on studying how people think, perceive, remember, and learn.