A statistical model is a mathematical representation that embodies the relationships among various variables within a dataset. It is used to analyze data and infer conclusions about underlying patterns, relationships, and behaviors. Here are some key components and concepts associated with statistical models: 1. **Variables**: These are the quantities or attributes being measured or observed. They can be classified into dependent (response) and independent (predictor) variables. 2. **Parameters**: These are the values that define the statistical model.
New to topics? Read the docs here!