A statistical model is a formalization of relationships between variables in the form of mathematical equations. A statistical model describes how one or more random variables are related to one or more other variables. The model is statistical as the variables are not deterministically but stochastically related. In mathematical terms, a statistical model is frequently thought of as a pair where is the set of possible observations and the set of possible probability distributions on .
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Providing third-parties with data is a necessary cost of living in the 21st century. Whether it’s securing auto insurance, ...