For each of the following scenarios, state whether descriptive, prodictive, or prescriptive analytics tools would most likely be used. Complete parts a through h below. a. The chief financial officer for a small manufacturing firm would like to estimate the net profit that the firm could expect over the next three years. Which analytics lools would most likely be used for this scenario? Descriptive Prescriptive Predictive

Question

For each of the following scenarios, state whether descriptive, prodictive, or prescriptive analytics tools would most likely be used. Complete parts a through h below. a. The chief financial officer for a small manufacturing firm would like to estimate the net profit that the firm could expect over the next three years. Which analytics lools would most likely be used for this scenario? Descriptive Prescriptive Predictive

Answer 1

Predictive

Answer 2

The scenario involves estimating future net profit, which requires analyzing historical data and identifying trends to make informed predictions about future outcomes. This type of analysis is best suited for predictive analytics tools, which are designed to forecast future events based on historical data.

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Answer

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Explanation