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Question No.1: [I Give the short answers of the following questions. 1. What is Quantitative Analysis in Business? 2. Identify the steps of the Quantitative Analysis approach. 3. What is the Transportation Model Problem? 4. Identify any three possible problems in the quantitative analysis approach. 5. Give the names of methods to solve transportation problems

Answer 1

1. Quantitative analysis (QA) is a technique that uses mathematical and statistical modeling, measurement, and research to understand behavior. Quantitative analysts represent a given reality in terms of a numerical value. Quantitative analysis is applied to the measurement, performance evaluation, valuation of a financial instrument, and predicting real-world events such as changes in a country's gross domestic product (GDP).

2. Steps are:
(i) Preparing the data
(ii) Data tabulation
(iii) Analyzing the data
(iv)  Interpreting the data

3.

The transportation problem is a distribution-type problem, the main goal of which is to decide how to transfer goods from various sending locations (also known as origins) to various receiving locations (also known as destinations) with minimal costs or maximum profit. As long as the number of origins and destinations is low, this is a relatively easy decision. But as the numbers grow, this becomes a complicated linear programming problem.
Transportation problems can be classified into different groups based on their main objective and origin supply versus destination demand. Transportation problems whose main objective is to minimize the cost of shipping goods are called minimizing. An alternative objective is to maximize the profit of shipping goods, in which case the problems are called maximizing.
In a case where the supply of goods available for shipping at the origins is equal to the demand for goods at the destinations, the transportation problem is called balanced. In a case where the quantities are different, the problem is unbalanced.

4.

(i) Improper representation of the target population
(ii) Lack of resources for data collection
(iii) Inability to control the environment
(iv) Limited outcomes in a quantitative research
(v) Expensive and time consuming
(vi) Difficulty in data analysis
(vii) Requirement of extra resources to analyse the results

Since the Chegg answering rule is to answer the first 4 sub-questions only, I have attempted only them. In case of any further requirement, feel free to mention it as a comment.