Question: 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

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 mathematical representation of the real situation possible. Why might the model described in part

(a) be preferred by the manager?

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