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CCC Prescriptive Analytics Relate to Descriptive & Predictive Analytics Question

 

How does prescriptive analytics relate to descriptive and predictive analytics? 

Explain the differences between static and dynamic models. How can one evolve into the other? 

  1. What is the difference between an optimistic approach and a pessimistic approach to decision making under assumed uncertainty? 
  2. Explain why solving problems under uncertainty some- times involves assuming that the problem is to be solved under conditions of risk.  
  3. What is the difference between decision analysis with a single goal and decision analysis with multiple goals (i.e., criteria)? Explain the difficulties that may arise   when analyzing multiple goals.