All quantitative models are typically made up of four basic components. List and describe them as well as what links them together
What will be an ideal response?
1. Result (outcome) variables reflect the level of effectiveness of a system; that is, they indicate how well the system performs or attains its goal(s). These variables are outputs.
2. Decision variables describe alternative courses of action. The decision maker controls the decision variables.
3. Uncontrollable variables or parameters are factors that affect the result variables but are not under the control of the decision maker. Either these factors can be fixed, in which case they are called parameters, or they can vary, in which case they are called variables.
4. Intermediate result variables reflect intermediate outcomes in mathematical models.
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The account Budgetary Fund Balance can have either a debit or credit balance.
a. true b. false
Why must marketers NOT view a social medium as a connector?
A) Connectors are only found in traditional non-interactive media. B) Social media have limited appeal, reach, and influence over young consumers. C) Social media are vehicles for connecting marketers with connectors who then share opinions with the larger community. D) Product claims on the Internet are not verifiable, and most consumers do not trust social media. E) Social media are so new that marketers are still unsure of effective ways to wage public relations campaigns in this environment.