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Statistical techniques are a model of reality: Reality is not rigorous, but when our models are rigorous, imprecision enters the computation at one place only.
by adwn 7y ago
Statistical techniques are a model of reality: Reality is not rigorous, but when our models are rigorous, imprecision enters the computation at one place only. If our models aren't rigorous, imprecision occurs at more places, blurring the answer even more.
"All models are wrong, but some models are useful." Just remember that there's some imprecision in the answer a model gives you, and keep that fact in mind when applying that answer to make real-world decisions.