Question 8 051 pts If a model can predict outcomes accuratel

Question 8 0.5/1 pts If a model can predict outcomes (accurately), what can be assumed? The theory behind the model needs to be refined The model is valuable. The assumptions of the model are generally accurate

Solution

If a model can predict outcomes (accurately), then it is the most valuable model because it is difficult to find or develop a model which will give us outcomes accurately. If a model gives us incorrect outcomes then it will be difficult for us to predict the outcome properly and based on these outcomes we cannot forecast the future outcomes.