As George Box (maybe) said all models are wrong, but some areuseful. (Links to an external site.)'
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Question:
As George Box (maybe) said "all models are wrong, but some areuseful. (Links to an external site.)' This week's discussionis an opportunity for you to think critically about when the modelwe've developed is useful and when it is not.
In your response to this discussion, please answer two questions(3 points) and then comment on a classmate's post (2 points):
- Describe an example of a decision for which you think thismodel would do a good job of predicting many peoples' decisions.Why? (1 point)
- Describe an example of a decision for which you think thismodel would NOT yield accurate predictions. What do you think ismissing that makes the model inadequate in this case? (1point)
- Comment on a classmate's post. Do you agree/ disagree? Can youthink of a way to improve our model to address their concerns? (1point)
Related Book For
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher
Posted Date: