Prescriptive Analytics Assignment

Complete the following assignment in one MS word document:

Chapter 8 –discussion question #1-4 & exercise 4
When submitting work, be sure to include an APA cover page and include at least two APA formatted references (and APA in-text citations) to support the work this week.
All work must be original (not copied from any source).

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1. How does prescriptive analytics relate to descriptive and predictive analytics?

2. Explain the differences between static and dynamic models. How can one evolve into the other?

3. What is the difference between an optimistic approach and a pessimistic approach to decision-making under assumed uncertainty?

4. Explain why solving problems under uncertainty sometimes involves assuming that the problem is to be solved under conditions of risk

exercise 4:

Investigate via a Web search how models and their solutions are used by the U.S. Department of Homeland Security in the “war against terrorism.” Also, investigate how other governments or government agencies are using models in their missions.

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