Quantitative Theory Flashcards

1
Q

Category

A

Modern

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2
Q

Conclusions

A

Problem identified and analyzed
Models applied
Judgement applied to results

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3
Q

Lasting Impact

A

Mathematical Techniques can be used to improve decision making but must also be supported by managerial judgement
“One size fits all” policies and procedures are not effective

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4
Q

Examples

A

Used to manage inventory, forcasting, resource allocation, wait times and staffing

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