Examine and discuss the statement: "All models are wrong; some models are useful."
Write a 2-3 pages paper including the following details:
- The limitations of mathematical modeling
- The advantages of using conceptual models
- The gap between the complexity of the real world and the simplicity of many abstract models used in forecasting
- The issues of bias in conceptual modeling
Present the paper in Microsoft Office Word document format.
All written assignments and responses should follow APA rules for attributing sources.