The real test of a good model is
A) Its degree of mathematical rigor
B) The degree to which it conforms to the "real world."
C) Its usefulness in predicting outcomes
D) How detailed it is

Question

Quizplus · Accepted Answer

The primary purpose of creating a model is to predict outcomes. Therefore, the best test of a good model is its usefulness in predicting outcomes. While mathematical rigor and conformity to the real world are important considerations, they do not necessarily guarantee a model's predictive power. A model may be highly detailed but still fail to accurately predict outcomes.

The Real Test of a Good Model Is