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Essay Details:
Essay text:
Without a little uncertainty, life is boring.
All decision models are either "absolute" or "relative". In an absolute model, there
is some formula that specifies the relationship between variables. It is the manager's job
to specify the values of the variables and be able to interpret the output of the formula.
While specifying the values of the inputs may not be an easy job, it does not classify as
rocket science, either. Someone has already figured out the gist of the problem and told
you how to find the answer. Unless the inputs are particularly hard to determine, this can
get to be very dull very quickly...
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Common topics in this essay:
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