Define Decision Making and Quantitative by: Dee Reavis
Decision Making: Decision making is all about choosing. Consider an example. When you come to an intersection of 2 roads, you can chose to go straight or to turn left or right. If you are new to the area, you may not be sure which way to go. Your goal is to reach a certain location. So you begin your decision making by obtaining more information. You look at the map. You discover that if you go straight ahead you can get to your goal. However, going right gets you there too. Now you have to evaluate which direction is best. Going right is shorter, but the roads are all dirt. Going straight lets you drive on paved roads. Since it has just rained, you decide to go straight.
Decision making is the process of defining a problem, finding feasible solutions, choosing the best solution and implementing it.
Quantitative: Means using numbers. The opposite of quantitative is qualitative. Quantitative methods as applied to decision making is the use of numerical analysis in order to choose the best solution.
Decision making is the process of defining a problem, finding feasible solutions, choosing the best solution and implementing it.
