Which Statement Is False Regarding Mathematical Models

question 69

Multiple Choice

Which statement is false regarding mathematical models?

• A)The modeling process can be a learning experience.
• B)It is possible to simulate several months, quarters, or years of company operations in a matter of minutes.
• C)Models are more expensive than the trial- and- error method.
• D)Models provide a predictive power.

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Definitions:

Variance

The square of the standard deviation, indicating how much the values in a set vary from the mean.

Prediction Interval

A range of values that is likely to contain the value of an unknown parameter for a given level of confidence.

Confidence Interval

A range of values, derived from sample data, that is likely to contain the value of an unknown population parameter with a specified level of confidence.

Regression Line

A line of best fit through a scatter plot of data points in statistical analysis, showing the relationship between two variables.