True-False 1. T F The more complicated the model, the more useful it generally is. 2. T F Models usually ignore much of the world. 3. T F Decision models produce numerical values for decision variables. 4. T F A decision model often captures interactions and trade-offs between certain variables or quantities of interest. 5. T F There is usually no single correct way to build a model of a management situation. 6. T F One advantage of the modeling process is that it often eliminates the need to be very familiar with the environment being studied. 7. T F In practice, models are sometimes built by teams of individuals drawn from different disciplines. 8. T F By definition, optimization models always provide the best decision for the real-world situation. 9. T F A model is a good substitute for a manager's judg ment and experience. 10. T F An important role of management can be the eval uation of a model (determining whether a model should be used and its results implemented). 1. T F Although spreadsheets make calculations easy, they have no real impact on decision making. 2. T F "What if" models are only useful for examining changes in the values of decision variables. . T F Data are needed only after the model is built. 4 T F As soon as you begin to hypothesize any relation ship among your data, you are beginning to formulate the equation(s) of a model. 5. T F Data are used in building models