In modeling situations where it is not possible to write an equation for an output in terms of the inputs, there may still be a mathematical procedure for calculating outputs from inputs. O True False A good model should achieve the right balance between being too simple and too complex. True False Which of the following is a possible cause if a model's outputs for certain inputs are not as expected? The certain inputs may not be correct The model could be too detailed of an approximation of the actual situation The mathematics in the model might be incorrect The expected outputs are not correct Which of the following type of model is used when an appropriate equation or system of equations can be developed to represent the system? O Simulation model O Analytical model Heuristic model Spreadsheet model Which of the following is not necessarily a property of a good model? The model represents the client's real problem accurately The model is as simple as possible The model is based on a well-known algorithm The model is one the client can understand Which of the following is not one of the reasons for the new-found relevance of management Science models? O Modeling is an important way to think about problems in general Modeling is often now a legal requirement The business world is increasingly driven by numbers Modeling helps develop intuition for problems