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What is a Statistical Model?

 , updated on October 25, 2015
A statistical model is a probability distribution constructed to support analysis of data. They differ from standard mathematical models in that they are non-deterministic. In other words, they don't give you a single answer but rather predict the probability of outcomes.
Overview: Statistical Model
FunctionStatistical Analysis
Business Analysis
Management Accounting
DefinitionAn equation or table that represents a set of assumptions about the probability of observations.
ValueMaking predictions or modeling observations with generalizations
Related TechniquesProbability Distribution

Statistical Analysis

This is the complete list of articles we have written about statistical analysis.
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Exponential Growth
Misuse of Statistics
Negative Correlation
Positive Correlation
Structured Data
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