Which of the Following Statements Is True of Models

question 70

Multiple Choice

Which of the following statements is true of models?

• A) The predictions of a model are referred to as data.
• B) A model is formulated after developing a hypothesis.
• C) Models are always based on assumptions that are known to be true.
• D) It is more important for a model to be simple and useful than to be precisely accurate.

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Definitions:

Intrapreneurship

The act of behaving like an entrepreneur while working within a large organization.

Allocate Time

The process of scheduling or assigning time to tasks or activities in order to manage it effectively.

Business Management

Business management encompasses the planning, organizing, directing, and controlling of a company's resources and operations to achieve its objectives.

Obtaining Financing

entails securing funds or capital necessary to start, operate, or expand a business, typically through loans, investments, or grants.