(solution) 5. What are the advantages of analyzing and experimenting with a model as opposed to a real object

(solution) 5. What are the advantages of analyzing and experimenting with a model as opposed to a real object

5. What are the advantages of analyzing and experimenting with a model as opposed to a real object or situation? 6. Suppose that a manager has a choice between the following two mathematical models of a given situation: (a) a relatively simple model that is a reasonable approximation of the real situation, and (b) a thorough and complex model that is the most accurate mathematical representation of the real situation possible. Why might the model described in part (a) be preferred by the manager?