One of the first things you must do in developing a model is:
A) select the correct modeling software.
B) consult a transformation text book.
C) determine the formulas that are required.
D) define the logic necessary to transform the inputs into the outputs.
E) backwards calculate what inputs are required for the defined inputs.

Question

Quizplus · Accepted Answer

Defining the logic necessary to transform the inputs into the outputs is one of the first and most important steps in developing a model. This allows for a clear understanding of how the model should function and what inputs are needed to achieve the desired outputs. Selecting modeling software, consulting textbooks, and determining formulas are all important steps, but they come after defining the logic of the model. Backwards calculating the inputs based on defined outputs may be necessary at some point in the process, but it is not one of the initial steps.

One of the First Things You Must Do in Developing