Do the assumptions of a model have to accurately describe behavior for the model to be useful? Explain.

Question

Quizplus · Accepted Answer

The Answer is Not necessarily. Sometimes models that accurately describe behavior do not offer any better insights. The text gives the example of a professional pool player: she may not know the mathematics necessary to calculate her best shot, but assuming that she does is helpful in determining which shot she will make.

Do the Assumptions of a Model Have to Accurately Describe