George Box, a famous statistician, once said, "All models are wrong, but some are useful." What did George Box mean by this statement?
Answers
Statement :-
"All models are wrong, but some are useful."
➺ George Box
This famous George Box quote was first recorded in 1976 in the paper “Science and Statistics,” published in the Journal of the American Statistical Association.
Analysis :-
The 1st part, "All models are wrong" that is, every model is wrong because it is a simplification of reality. Some models, especially in the "hard" sciences, are only a little wrong. They ignore things like friction or the gravitational effect of tiny bodies. Other models are a lot wrong because they ignore bigger things. In the social sciences, we ignore a lot.
The 2nd part, "But some are useful" - simplifications of reality can be quite useful. They can help us explain, predict and understand the universe and all its various components.
The idea of this quote is that every single model will be wrong, meaning that it will never represent the exact real behaviour.
"All models are wrong" is a common aphorism in statistics; it is often expanded as "All models are wrong, but some are useful". It is usually considered to be applicable to not only statistical models, but to scientific models generally.
→ Who was George Box ?
He was a British statistician, who worked in the areas of quality control, time-series analysis, design of experiments, and Bayesian inference. He has been called "one of the great statistical minds of the 20th century"
Answer:
A model is an estimate or approximation of a data set. In the real world, there are too many variables to know exactly what will happen. However, if a model is a good fit, then it can be used to make predictions about what will happen. With a useful model, a predicted value should be a good estimate of an observed value.
Step-by-step explanation:
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