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LECTURE 4 - Coggle Diagram
LECTURE 4
Decision Science
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Iterative process
- Understand decision problem
- Formulate mathematical model
- Define a solution procedure
- Run and analyze the model
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Reliability and Validity
Threat to Validity:
- misunderstand the problem
- input data is poor
- solution is not optimal
Reliability:
- solution is not robust/stable
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Experiments
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Lab, field, quasi-experiment
Confounding variables:
External to the model, difficult to observe, distort relationship between variables
How to deal with them:
- statistical control
- randomization
- restriction
- matching
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Secondary Data
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Advantages:
- size and range of dataset
- easier to replicate
- more objectivity
- high quality
Disadvantages:
- mismatch of data with RQ
- data quality unknown
- time-consuming
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