Jason Adams, 9/7/18
“All models are wrong, but some are useful.”
This quote, well-known to statisticians, comes from one of the most influential figures in statistics, George Box. The point that Box was making is one that is misunderstood by many data analysts, from novices to experienced researchers: every statistical model is an approximation to reality. To understand how an approximation to reality can still be useful, consider the two models visualized in the following figure.
Knowing that both of these models come from the same data set, a...
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