Statistical model validation: Difference between revisions

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{{Redirect|Model validation|the investment banking role|Quantitative analysis (finance) #Model validation}}
In [[statistics]], '''model validation''' is the task of confirming that the outputs of a [[statistical model]] are acceptable with respect to the real data-generating process. In other words, model validation is the task of confirming that the outputs of a statistical model have enough fidelity to the outputs of the data-generating process that the objectives of the investigation can be achieved.