Which of the following statements are FALSE (choose all the false statements. Choosing True statements will incur negative marking)
-Models are simplified versions of a situation that we want to analyze/study. We only input variables that we can control in our model.
-Variables that we cannot control cannot be part of a decision model.
-In the problem solving process, once we test the results, we can directly implement the solution.
-Sensitivity analysis helps us find the optimal solution
-Finding the basic statistics (like mean), correlation, drawing pivot tables and charts are examples of descriptive models.
-Regression model is an example of a probabilistic and descriptive model