difference between mathematical model and statistical model
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Answers
Answer:
Mathematical models determine how the system changes from one state to the next and describes the interdependence of the variables (or factors) involved. Statistical models characterize the numerical data and attempts at estimating probabilistic future behavior of a system based on its past behavior.
Answer:
Difference between the mathematical model and statistical model
Mathematical model
- Determine how the system changes from one state to the next and describes the interdependence of the variables (or factors) involved.
- Description of a system using mathematical concepts and language. The process of developing a mathematical model is termed mathematical modeling.
Statistical models
- Characterize the numerical data and attempts at estimating probabilistic future behavior of a system based on its past behavior.
- A mathematical model that embodies a set of statistical assumptions concerning the generation of sample data (and similar data from a larger population). A statistical model represents, often in considerably idealized form, the data-generating process.