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On one level all models are wrong, but not all models are equally wrong. Let's use a hypothetical example. Imagine I'm a car salesman, and I move to a new town
by ZenoArrow 9y ago
On one level all models are wrong, but not all models are equally wrong.
Let's use a hypothetical example. Imagine I'm a car salesman, and I move to a new town with 10,000 people. Am I likely to be better off if 1% of that population can afford to buy a car or 10% of that population can afford to buy a car?
- ddxxdd 9y ago10%, sure. But are you any worse off if, out of those 10%, 1% can afford a private jet?