What does a mathematical model encompass?

A mathematical model fundamentally consists of mathematical symbols and expressions that are utilized to represent and analyze real-world situations. This is typically done by translating a problem into a mathematical framework that can be manipulated and solved using various mathematical techniques. The purpose of a mathematical model is to abstract complex real-world scenarios into a simplified form that highlights essential elements, making it easier to analyze outcomes and make decisions based on the modeled situation.

While qualitative assessments and diagrams can provide insights and visual representations, they do not capture the structured and quantitative aspects intrinsic to mathematical modeling. Similarly, a collection of statistical graphs is useful for displaying data, but it lacks the comprehensive and structured approach that defines mathematical modeling. By engaging in the creation and analysis of mathematical models, one can derive insights, optimize decisions, and predict future outcomes based on the relationships defined by the mathematical expressions. Thus, the correct answer accurately describes the essence of what a mathematical model encompasses.