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Janardhanan PS's Blog Posts Tagged 'Accuracy' (1)

Does "All models are wrong, but some are useful" quote apply to Machine learning models?

Models are simplification or approximation of reality and hence they will not capture all of reality. “All models are wrong, but some are useful” is a famous quote by George Edward Pelham Box (1919–2013). George Box was a British mathematician and professor of statistics at the University of Wisconsin. Statisticians develop theoretical models to predict the behaviour of certain process. The meaning of this quote is that every single model will be wrong and it never represents the exact…

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Added by Janardhanan PS on January 20, 2020 at 11:30pm — 1 Comment

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