Final answer:
Policy analysis is the systematic process of using quantitative and qualitative methods to identify, compare, and select policy interventions that maximize outcomes efficiently.
Step-by-step explanation:
The systematic process involving the use of quantitative and qualitative methods to identify, compare, and select policy interventions that will achieve objectives and maximize outcomes most efficiently is known as policy analysis. Policy analysis helps decision makers assess and evaluate different policy options and their potential impacts. It involves gathering relevant data, conducting thorough research, and using various methods to analyze the effectiveness and efficiency of policy interventions.