Question

Models are ______________ of reality. Group of answer choices records translations abstractions summaries data

Models are ______________ of reality.

Group of answer choices

records

translations

abstractions

summaries

data

Math   Statistics-And-Probability   
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Homework Answers

Answer #1

Models are of reality.

Every model is an abstract representation of reality.

The ideology behind a model is that it can capture the way the world reacts. It will not exactly behave as the reality, but a good model will provide a very close and reliable estimation of the output expected in reality. For example - a pension model can help estimate the liabilities of a pension plan. It will provide a very good estimation of reality by considering the different decrements like mortality, retirement, withdrawal, interest rates, etc. It will be an abstract model of reality and the actual experience may vary.

Please do upvote if you are satisfied! Let me know in the comments if anything is not clear. I will reply ASAP!

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