Which of the Following Is Not a Benefit of Using

question 27

Multiple Choice

Which of the following is not a benefit of using models in decision making?

• A)They provide a standardized format for analyzing a problem.
• B)They serve as a consistent tool for evaluation.
• C)They are easy to use and less expensive than dealing with the actual situation.
• D)They force the decision maker to take into account qualitative issues such as personalities and emotions.
• E)They offer insights into fundamental issues at play in a decision-making setting.

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Definitions:

Consumer Price Index

A metric that tracks the average variation in prices that urban buyers pay for a selection of consumer products and services over a period.

Rising Cost

An increase in the price or expense of goods, services, or operational activities over time.

Labor Market

A marketplace where employers find workers and workers find jobs. It's the supply of available labor compared to the demand for it.

Fair Labor Standards Act

U.S. law that establishes minimum wage, overtime pay eligibility, recordkeeping, and child labor standards.