Question: What are the benefits of mathematical models
What are the benefits of mathematical models?
Answer to relevant QuestionsList and briefly describe Simon’s four phases of decision making.Define rational decision making. What does it really mean to be a rational decision maker?Why do some people claim that the choice phase is the point in time when a decision is really made?Why is intuition still an important aspect of decision making?Some experts believe that the major contribution of DSS is to the implementation of a decision. Why is this so?
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