Week 4 discussion | Statistics homework help

I need at least 500 words Initial Post. 250 words for each question. No Plagiarism. Due in 12 hours. I will also attached the replies of other students once they are available. I need 0.5 page for each reply. 

 Write a minimum of 250 words for each of the discussion questions below:

A decision model may be descriptive, heuristic, or prescriptive.

  1. In your judgment, what are some important requirements for making good decision models regardless of whether they are descriptive, heuristic, or prescriptive? How would you check the validity of a model that you have selected?
  2. Describe the reasons why a manager might use a heuristic decision model instead of a prescriptive model. Use a real life example, and explain your reasons within the context of your example.

In your two replies to classmates, explore how uncertainties may alter the outcomes of their real-life example mode

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