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mental models have on the decision-making process

mental models have on the decision-making process

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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What effect do mental models have on the decision-making process?
 
a
They reduce the importance of developing alternative solutions to the problem.
b
They allow decision makers to maximize the potential of their decision making.
c
They adversely influence evaluations by making it difficult to see new opportunities.
d
DThey allow decision makers to obtain accurate information from their surroundings.
Expert Solution
Step 1

You can grasp life by using mental models. One mental model that can help you comprehend how the economy functions is supply and demand. A conceptual model called "game theory" can help you comprehend how relationships and trust function. You may visualize disorder and decay by using the concept of entropy.

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