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Published in:
2023 | OriginalPaper | Chapter
8. Model Diagnostics
Author : Daniel P. McGibney
Published in: Applied Linear Regression for Business Analytics with R
Publisher: Springer International Publishing
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Abstract
Knowing the correct mathematical model can be tremendously helpful when trying to make predictions. In many cases, however, a mathematical model that is relatively close to the true state may suffice. Yet this process brings its challenges. The quote from Mark Twain shown above alludes to the difficulty of attempting to find a mathematical model that is acceptable enough.