Question

Discussion Part 2: Quantitative Methods and You: For this second portion of the forum, discuss the following in your initial post: What do you know about quantitative methods? What is your experience in this area? If you have no experience, just say so! What scares you the most about quantitative analysis? What are you most hoping to gain/learn in this course? Be sure to make a substantive original post. Please also reply to your peers with substantive feedback that enriches the conversation and adds value to the forum.

Answer 1

I am providing some basics of QUANTITATIVE MODELLING and an example.

Quantitative analysis (QA) is a technique that seeks to understand behavior by using mathematical and statistical modeling, measurement, and research. Quantitative analysts aim to represent a given reality in terms of a numerical value. Any subject involving numbers can be quantified; therefore, there are many fields in which quantitative analysis is used and is beneficial.

Now in mathematical way, Quantitative models are compact representations where a single differential or difference equation may describe the performance of the system for a large set of input functions and initial states.

Now consider the example of calculating GDP(GROSS DOMESTIC PRODUCT) , here the quantitative model is used to compare nation's progress. But keep in mind that ifiQualitative model is also used together, a better picture will come out.