What are models and why are they important?

. Why is the degree of customization an important consideration in process planning?

List the trade-offs you would consider for each of these decisions:

a. Driving your own car versus public transportation.

b. Buying a computer now versus waiting for an improved model.

c. Buying a new car versus buying a used car.

d. Speaking up in class versus waiting to get called on by the instructor.

e. A small business owner having a website versus newspaper advertising