Which of the Following Statements About Models Is Correct

question 201

Multiple Choice

Which of the following statements about models is correct?

• A)The more details a model includes,the better the model.
• B)Models assume away irrelevant details.
• C)Models cannot be used to explain how the economy functions.
• D)Models cannot be used to make predictions.

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Definitions:

Toyota Production System

A highly efficient and flexible production system developed by Toyota that focuses on eliminating waste and increasing quality.

TPS

Toyota Production System, a highly influential production philosophy focused on eliminating waste, improving productivity, and achieving efficiency in manufacturing.

Kanban Size

Refers to the capacity or limit set for a kanban, a tool in lean manufacturing and just-in-time production, which signals when more materials or work is needed.

Setup Cost

A fixed cost incurred each time a production process or activity is initiated, which includes costs associated with preparing equipment and facilities for manufacturing.