FREE Trial

Why are models not used in industry as frequently as they should or could be?

Question:

Why are models not used in industry as frequently as they should or could be?

This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!

Step by Step Answer:

Answer rating: 50% (2 reviews)

The use of models in industry is influenced by various factors and while models can be incredibly valuable there are several reasons why they may not be used as frequently as they could or should be L…View the full answer


answer-question
Answered By
tutor-profile-image
Krishnavendra Y
I am a self motivated financial professional knowledgeable in; preparation of financial reports, reconciling and managing accounts, maintaining cash flows, budgets, among other financial reports. I possess strong analytical skills with high attention to detail and accuracy. I am able to act quickly and effectively when dealing with challenging situations. I have the ability to form positive relationships with colleagues and I believe that team work is great key to performance. I always deliver quality, detailed, original (0% plagiarism), well-researched and critically analyzed papers.
5.00+ 4+ Reviews 10+ Question Solved
Related Book For  answer-question
Business Intelligence And Analytics Systems For Decision Support

Business Intelligence And Analytics Systems For Decision Support

ISBN: 9781292009209

10th Global Edition

Authors: Efraim Turban, Ramesh Sharda, Dursun Delen, Pearson Education Limited, Dennis G. Zill

See More Books
Question Details
Chapter # 9- Model-Based Decision Making: Optimization and Multi-Criteria Systems
Section: Section 9.2 Review Questions
Problem: 4
View Solution
Create a free account to access the answer
Cannot find your solution?
Post a FREE question now and get an answer within minutes. * Average response time.
Question Posted: September 04, 2023 05:51:28
See More Questions

Students also viewed these Business questions

Q:
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
A:
A hotel s target market is a specific subset of all hotel customers from whom a particular property seeks to obtain business This could be business travelers and families on vacation to a hotel near a......
Q:
1. How strong are the competitive forces confronting J. Crew in the market for specialty retail? Do a [Michael Porter] five-forces analysis to support your answer. (see chapter 3 in the textfor...
A:
Click to View...
Q:
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
A:
Answer 12 A A bond s coupon rate sometimes abbreviated simply to coupon isn t affected by its price B However the coupon rate influences the bond s price by influencing the bond s competitiveness and......
Q:
Hatch plc has two classes of share capital outstanding: 8%, 20 par preference and 5 par ordinary. At December 31, 2021, the following accounts were included in equity. Share CapitalPreference,...
A:
The equity section of the statement of financial position for Hatch plc at Decembe......
Q:
A company conducted a consumer research project to ascertain customer service ratings from its customers. The customers were asked to rate the company on a scale from 1 to 7 on various quality...
A:
Source df SS MS F Age 2 49 3889 24 6944 38 65 Column 3 1 2222 0 4074 0 64 Interaction 6 1 2778 0 213......
Q:
Every hour, 10,000 cans of soda are filled by a machine, among which 300 under filled cans are produced. Each hour a sample of 30 cans is randomly selected and the number of ounces of soda per can is...
A:
N 10000 n 30 and k 300 Using binomia......
Q:
What is the primary reason for choosing advanced multitiered architectures over ordinary client/server solutions?
A:
Advanced multitiered architectures are chosen over ordinary client server solutions for several reasons with the primary one being scalability and flexibility Scalability Multitiered architectures all......
Q:
Bechtel Technical Clothing produces parkas used by arctic explorers, mountain climbers, and people living in Minnesota. The company uses a standard costing system, and standards call for 3.5 yards of...
A:
a Material Price Variance AP SP AQ P 46 45 23 000 23 000 unfavorable Raw Material Inventory 1 035 00......
Q:
Jack my translator from China now lives in the UK. He is learning to drive. He is not a self-assured driver he has low self-efficacy about his driving abilities. Jack grew up in China at a time when...
A:
Leadership Theory Using Self efficacy......
Q:
On January 1, 2020, James Company purchased 100 percent of the outstanding voting stock of Nolan, Inc., for $1,000,000 in cash and other consideration. At the purchase date, Nolan had common stock of...
A:
Investment account goes to zero 0 Fair Value Allocation Schedule 1 1 2020 Consideration transferred......
Q:
Define the product-mix problem.
A:
The product mix problem also known as the production mix problem or the blending problem is a type o......
Q:
Go to orms-today.com and access the article The Sound Science of Scheduling, by L. Gordon and E. Erkut from OR/ MS Today, Vol. 32, No. 2, April 2005. Describe the overall problem, the DSS developed...
A:
The paper The Sound Science of Scheduling by L Gordon and E Erkut discusses the use of decision support systems DSSs to solve scheduling problems Sche......
Q:
At 6 am, an online company has sold 120 items that day. If the company sells an average of 30 items per hour for the remainder of the day, write an expression to represent the number of items that...
A:
30 n 120 This means that for every......
Q:
Consider a five-year term life insurance policy with face amount equal to $100,000 for a 40-year-old with an interest rate of 10%. (a) calculate the single premium for the five-year term life...
A:
Click to View...
Q:
Calculate the profitability ratios for the company A2 Milk (in the financial year end June 2022). 4 ratios for profitability required 1) Gross Profit Margin (answer should equal to 45.96%, pls show...
A:
Click to View...
Q:
The price quotations of Treasury bonds with maturity of 2/15/2048 in the WSJ show a bid price of 120.242 and asked price of 120.262. At what price can an investor puy the Treasury bond with a face...
A:
The price of a Treasury bond is usually quoted as a percentage of its face value and it......
Q:
Farmer Corporation owned 65% of the voting common stock of Suffield, Inc. The parent's interest was acquired several years ago on the date that the subsidiary was formed. Consequently, no goodwill or...
A:
1 What balances would need to be considered in order to prepare the consolidation entry in connectio......
Q:
1- Draw the block diagram for a digital computer. Explain the function of each component 2- Describe the four difference number systems 3- Convert the following decimal numbers to binary: 45, 25,69,...
A:
1 Block Diagram for a Digital Computer A digital computer consists of several key components Input Devices Central Processing Unit CPU Memory RAM Arithmetic Logic Unit ALU Control Unit Output Devices......
Q:
From the data in Table 14-1 in the text, calculate the overall rate change of first-class postage as measured by the LCI for the following decades: (a) The 1970s (1970-1979) (b) The 1980s (1980-1989)...
A:
a Overall LCI change 250 1......
Q:
Quadrilateral EFGH is a kite. Find mG. E H <105 G 50 F
A:
As per the given information we have a kite EFGH with the following properties Angle EHG 105 Angle E......
Applied Psychology In Human Resource Management 7th Edition - ISBN: 0136090958 - Free Book