Please answer below 4 discussion Questions below (Page No: 505 and 506). and exercise question. I attached the textbook for your reference.
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 question –506
1. Explore teradatauniversitynetwork.com, and determine how models are used in the BI cases and papers.