Reference no: EM131501208

The topic for discussion in the Forum of Unit 6 are mathematical models and how good they should fit reality. In this Forum we would like to return to the same topic subject, but consider it specifically in the context of statistical models.

Some statisticians prefer complex models, models that try to fit the data as closely as one can. Others prefer a simple model. They claim that although simpler models are more remote from the data yet they are easier to interpret and thus provide more insight.

What do you think? Which type of model is best to use?

When formulating your answer to this question you may think of a situation that involves inference that you do and need to present to other people. Would the consumers of your analysis benefit more from you having used a complex model of from yo having used a simpler model? What would be the best way to report your findings and explain them to the consumers?