Statistical Modeling
Statistical modeling is the process of using statistical methods to create a mathematical representation of a real-world process or system. It involves selecting a statistical model that best fits the data and using that model to make predictions or gain insights about the underlying process. The process of statistical modeling typically involves several steps, including data collection, data cleaning and preparation, model selection, parameter estimation, and model validation. Statistical modeling is widely used in data science and artificial intelligence to analyze and understand complex data sets, make predictions, and inform decision-making. It is used in a variety of fields, including finance, healthcare, marketing, and social sciences.
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