Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1: (50 marks-500 wards) Although causal loop diagrams are wonderfully useful in many situations, they suffer from a number of limitations and can be

image text in transcribed
Question 1: (50 marks-500 wards) Although causal loop diagrams are wonderfully useful in many situations, they suffer from a number of limitations and can be easily abused. One of the most important limitations of causal diagrams is their inability to capture the stock and flow structure of systems. Stocks and flows, along with feedback, are the two central concepts of dynamic systems theory. a. Explain what is meant by stock and flow and support your answer with examples. (20 marks) Explain how does the system dynamics use a particular diagramming notation for stocks and flows (20 marks) and draw the figure of stock and flow structure of task in project phase (10 marks) b. Question 2: (50 marks- 500wards) The nature of a decision process and its rationality are empirical questions that must be addressed by primary field study, experimental tests, and other means. But whatever your view about the sophistication and rationality of decision making, your models must conform to certain basic principles. a. Explain the principles of modeling human behavior (50 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Systems Exam Questions And Explanations

Authors: Irvin N. Gleim

10th Edition

158194246X, 978-1581942460

More Books

Students also viewed these Accounting questions

Question

What were the effects of the hormone therapy for Renee?

Answered: 1 week ago