In a short essay, discuss the characteristics of an analytical model and list and discuss the three most common forms of this model
What will be an ideal response?
An analytical model consists of a set of variables related in a specified manner to represent all or a part of some real system or process. Models can take many forms. The most common are verbal, graphical, and mathematical structures. In verbal models, the variables and their relationships are stated in prose form. These models are often a summary or restatement of the main points of the theory. Graphical models are visual and pictorially represent the theory. They are used to isolate variables and to suggest directions of relationships but are not designed to provide numerical results. They are logical, preliminary steps to developing mathematical models. Mathematical models explicitly specify the strength and direction of relationships among variables, usually in equation form.
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Indicate whether the statement is true or false
On March 1, a business paid $3,600 for a twelve-month liability insurance policy. On April 1, the business entered into a two-year rental contract for equipment at a total cost of $18,000 . Determine the following amounts: (a) insurance expense for the
month of March (b) balance in prepaid insurance as of March 31 (c) equipment rent expense for the month of April (d) balance in prepaid equipment rental as of April 30
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Answer the following statement true (T) or false (F)
First-order change is to evolutionary change as ______.
A. second-order change is to transformational change B. second-order change is to revolutionary change C. second-order change is to episodic change D. all of these