Economics · Operations Research

An abstraction or simplified representation of a real-world system or situation is known as a:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Variable
2Statistic
3Parameter
4Model✓

Correct answer

Model

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An abstraction or simplified representation of a real-world system or situation is known as a:

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An abstraction or simplified representation of a real-world system or situation is known as a:

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