George Box, a famous statistician, once said, "All models are wrong, but some are useful.” What did George Box mean by this statement?

Basically meaning that no model can exactly be on point with whatever it is modeling. Two things cannot be EXACTLY identical to what they are referring to, but it is saying that some can get close enough to be useful as an example.

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maheshpatelvVT maheshpatelvVT · Answer 2 · 2022-05-04T13:52:58+02:00

he meaning the statement "All models are wrong, but some are useful" is model is an estimate or approximation of a data set. In the real world, there are too many variables to know exactly what will happen.

What is statistics?

Statistics is a mathematical tool defined as the study of collecting data, analysis, understanding, representation, and organization. Statistics described as the procedure of collecting data, classifying it, displaying that in a way that makes it easy to understand, and analyzing it even further.

We have:

George Box, a famous statistician, once said, "All models are wrong, but some are useful"

It means a model is a data set's estimate or approximation. There are far too many variables in the real world to predict exactly what will happen.

If a model fits well, however, it can be utilized to make predictions about what will happen.

Thus, the meaning the statement "All models are wrong, but some are useful" is model is an estimate or approximation of a data set. In the real world, there are too many variables to know exactly what will happen.

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