Statistical modeling

Statistical modeling is a mathematical discipline that uses statistics to create empirical models. Statistical models are mathematical models that embody 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.

Overview

The process of developing a statistical model is termed statistical modeling. Statistical models are a part of the larger field of mathematical modeling. In the context of statistics, "mathematical model" and "statistical model" are almost synonymous.

Types of Statistical Models

There are several types of statistical models, including:

• Descriptive Models: These models describe the relationship between the response and the explanatory variables.
• Predictive Models': These models predict the response variable based on the values of the explanatory variables.
• Explanatory Models: These models explain the relationship between the response and the explanatory variables.

Applications

Statistical modeling has applications in a wide variety of fields, including economics, engineering, medicine, physics, and social sciences. It is used to understand and predict behavior in complex systems.

See Also

• Regression analysis
• Statistical inference
• Statistical theory
• Mathematical statistics