___________ are the representation of reality.
A. Models
B. Phases
C. Both A and B
D. None of the above
Answer: Option A
Solution(By Examveda Team)
Models are the representation of reality. A Business Model is a representation of the reality (of a set of business activities) where the modelling exercise is to faithfully abstract the core activities into a model which is an abbreviated but accurate representation of the reality.This Question Belongs to Management >> Operations Research
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A. Is possible when the variables value is known
B. Reduces the scope of judgement & intuition known with certainty in decision-making
C. Require the use of computer software
D. None of the above
A. Must be deterministic
B. Requires computer aid for its solution
C. Represents data in numerical form
D. All of the above
A physical model is example of.
A. An iconic model
B. An analogue model
C. A verbal model
D. A mathematical model
The qualitative approach to decision analysis relies on.
A. Experience
B. Judgement
C. Intuition
D. All of the above
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