Slide 13
Slide 13 text
“All models are wrong, some models are useful.”
Box, G.E.P., Robustness in the strategy of scientific model building, in Robustness in
Statistics, R.L. Launer and G.N. Wilkinson, Editors. 1979, Academic Press: New York.
Entia non sunt multiplicanda praeter necessitatem
The principle, known as Occam’s Razor, that says:
when there are two competing theories or
explanations -- both compatible with observed
data, known facts -- the simpler one is better.
Implication for statistical analysis: if two models
are equally wrong-but-compatible-with-data, the
simpler one is more useful!