Question

Discuss both the quantitative and qualitative factors that managers should consider when making decisions using differential analysis. In your discussion, apply these factors to a specific example of a decision under consideration.

Answer 1

Answer:

Quantitative judgments are mainly based on statistical analysis of acquired data, whereas subjective judgments are dependent on a variety of algorithms such as data kind and quality, influencing variables, hazard identification, and etc.

Consider qualitative aspects that may affect your decision to buy items from a third-party vendor. The supplier's dependability, the quality of its administration, and the grade of its commodities are instances of such criteria.