Q1. How does prescriptive analytics relate to descriptive and predictive analytics?
Q2. Explain the differences between static and dynamic models. How can one evolve into the other?
Q3. What is the difference between optimistic approaches to decision pessimistic approach to decision making under assumed uncertainty?
Q4. Explain why solving problem under uncertainty sometimes involves assuming that the problem is to be solved under conditions of risks
Q4. Investigate via 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 are using models in the missions.
Q1. What is big data? Why is it important? Where does big data come from?