Question

Which of the following is/are correct statements about the limitations of using (mathematical) models as decision-making tools?

A: Only experts can build and use a model
B: The models may be applied incorrectly
C: Too much emphasis may be placed on quantitative information
D: The average user may not understand the details of a model

Answer 1

Mathematical models as decision-making tools have limitations, including the need for expertise, the potential for incorrect application, an overemphasis on quantitative information, and a lack of understanding by users.

Step-by-step explanation:

Using mathematical models as decision-making tools can have certain limitations. One limitation is that only experts may be able to build and use these models effectively (A). Another limitation is that the models may be applied incorrectly, leading to inaccurate results (B). Additionally, too much emphasis may be placed on quantitative information, neglecting important qualitative factors (C). Finally, the average user may not fully understand the details of a model, which can affect the decision-making process (D).