Suppose that a manager has a choice between the following two mathematical models a given situation: (a) a relatively simple model that is a reasonable approximation of real situation, and (b) a thorough and complex model that is the most accurate mathem ical representation of the real situation possible. Why might the model described part (a) be preferred by the manager?
Suppose that a manager has a choice between the following two mathematical models a given situation: (a) a relatively simple model that is a reasonable approximation of real situation, and (b) a thorough and complex model that is the most accurate mathem ical representation of the real situation possible. Why might the model described part (a) be preferred by the manager?
Understanding Management (MindTap Course List)
10th Edition
ISBN:9781305502215
Author:Richard L. Daft, Dorothy Marcic
Publisher:Richard L. Daft, Dorothy Marcic
Chapter15: Managing Quality And Performance
Section: Chapter Questions
Problem 1GL: Create a Group Control System Step 1 Form into groups of three to five students. Each group will...
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