Question: Suppose a manager must choose between the following two mathematical

Suppose a manager must choose 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 mathematical representation of the real situation possible. Why might the model described in part (a) be preferred by the manager?




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  • CreatedFebruary 25, 2014
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