One Reason Complex Models Have Not Found Widespread Use and Application

question 40

Multiple Choice

One reason complex models have not found widespread use and application is that

• A) managers are lazy
• B) managers cannot understand how they work
• C) the models are inaccurate
• D) good models are time-consuming and managers must often react swiftly to dynamic demand
• E) the statement is false; complex models are widely used and accepted

---

Definitions:

Confidence Interval

A range of values that is used to estimate the true value of a population parameter with a certain level of confidence.

Population Standard Deviation

A measure of the dispersion of a set of data from its mean, calculated for the entire population.

Confidence Interval

A statistical range, with a given probability, that contains the true parameter of the population.

Mean

The mean is the average of a set of numerical values, calculated by summing all the values and dividing by the count of the values.