Before trusting the answers to what-if scenarios from a spreadsheet model, a manager should attempt to validate the model.
How would you validate a model?
Models are known to be validated through the act of making comparison of the output to independent field as well as the experimental data sets that tends to come together with the simulated state.
In statistics, a model validation is seen as the task of knowing that the outputs of a statistical model are said to be acceptable. Therefore, Before trusting the answers to what-if scenarios from a spreadsheet model, a manager should attempt to validate the model.
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