simulation

.nobullet li { list-style-type: none; } Key Takeaways A business case study may be played out using a replicable controlled experiment1. Consider a hypothetical business case with these characteristics: The objective is prediction of a numerical outcome. Many indicators are available to try and predict the outcome.

Key Takeaways A linear model – a “line of best fit” – estimates the true relationship between predictors and an outcome. Linear models come in classical statistics or machine learning varieties. To learn about linear models’ relative performance/behavior, we use controlled experiments, powered by computer simulation.