6. Suppose that a manager has a choice between the following two mathematical models of a given situation: (a) a relatively simple model that is a reasonable approximation of the real situation, and...


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6. Suppose that a manager has a choice between the following two mathematical models of<br>a given situation: (a) a relatively simple model that is a reasonable approximation of the<br>real situation, and (b) a thorough and complex model that is the most accurate mathemat-<br>ical representation of the real situation possible. Why might the model described in<br>part (a) be preferred by the manager?<br>

Extracted text: 6. Suppose that a manager has a choice between the following two mathematical models of a given situation: (a) a relatively simple model that is a reasonable approximation of the real situation, and (b) a thorough and complex model that is the most accurate mathemat- ical representation of the real situation possible. Why might the model described in part (a) be preferred by the manager?

Jun 02, 2022
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