Decision Making Glossary - M

We have put together a glossary for decision making related terminology and acronyms to convey our meaning on this important topic.

Model

A simplified description, representation, example, or analogy of a complex system, theory, process, practice, phenomenon, or pattern that is used to explain, provide insight, enable analysis and comparison, and/or facilitate imitation or use. A model often provides a standard for measurement and may suggest probabilities for events when underlying assumptions are considered as true. (For example, a computer simulation model of a communication system will predict statistical performance for users of the system when assumptions are valid.)

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