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using quantitative methods in decision making.

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Please help answer the following problem regarding the use of quantitative methods in decision making.

Mathematical models are used in decision making by the decision making units. Discuss any decision you have made so far in your life, using or not using these models. Please state your level of familiarity with any of these models or computer programs

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Problem: Mathematical models are used in decision making by the decision making units. Discuss any decision you have made so far in your life, using or not using these models. Please state your level of familiarity with any of these models or computer programs

I use mathematical and statistical models in ...

Solution Summary

The following provides a discussion of how quantitative methods can be employed for decision making purposes. The examples include using the formula rate*time=distance to compute estimated time of arrival and regression analysis to make forecasts. The explanation is given in 225 words.

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