A decision model is an idealized representation of the problem. Decision model refers to structured presentation of the problem, solution there to and stimulation of working of the solution. The model’s purpose is to enable the decision analyst to forecast the effect of factors crucial to the solution of the problem.
Types of ModelsThere are different types of models. Ionic and Symbolic models are the prime two types. Ionic Models are concretized. It is a physical representation of any real life object on a different scale. Think of a prototype of a plane/car/machine/globe/idol and so on. Symbolic models re abstract models.… Read the rest