A mathematical model
A) contains only exogenous variables.
B) treats endogenous variables as given.
C) seeks to explain exogenous variables.
D) does not clearly define the assumptions of the model.
E) reaches conclusions using logically sound methods.

Question

Quizplus · Accepted Answer

A mathematical model is designed to reach conclusions using logically sound methods. It may contain both exogenous and endogenous variables, and may seek to explain either type of variable. The model should clearly define the assumptions and relationships between variables.

A Mathematical Model