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Concept
Predictive Power
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Summary
Predictive power
refers to the
ability of a model
or
statistical method
to
accurately forecast outcomes
based on
input data
. It is a crucial measure in evaluating the
effectiveness of models
in
fields like finance
, healthcare, and
machine learning
, where decision-making relies on
future predictions
.
Relevant Degrees
Probability and Statistics 50%
Methods of Social Science 30%
Computer Science and Data Processing 20%
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