What are the attributes of a good quantitative analysis model?
C.W. Churchman once said that "mathematics tends to lull the unsuspecting into believing that he who thinks elaborately thinks well." Do you think that the best QA models are the ones that are most elaborate and complex mathematically? Why or why not?© BrainMass Inc. brainmass.com October 10, 2019, 5:47 am ad1c9bdddf
Quantitative analysis is the scientific approach to managerial decision making, in which raw data is processed and manipulated to result in meaningful information. In order to have a good quantitative analysis model it is important to accurately define the problem. This is often the most difficult step since one must prioritize issues based upon corporate goals, in addition, it is crucial to go beyond symptoms and identify the root cause. The next important attribute is to acquire accurate input data, to avoid worthless results. This is referred to as the "GIGO Rule" or "garbage in, garbage out" problem, which states, "your conclusion is only as good as your data" (Gelman, 2012). The input data ...
This solution discusses the attributes of a good quantitative analysis, and if the QA models that are most elaborate and complex mathematically, and why or why not. APA formatted references included.