Lokesh Sharma
Oct 22, 2020

What is the difference between a statistical model and a mathematical model?

Mathematical models explain functional relationship between y and x in non-random or non probabilistic environment. On the other hand, statistical models explain functional relationship between x and y in stochastic/ random/ probabilistic environment. The error term in a statistical model is responsible for introducing randomness.

Mathematical model: y=b0+b1*X
Statistical model: y=b0+b1*X+e

Where y is response, X is a explanatory variable, e is the error term, bo and b1 are regression coefficients.

Lokesh Sharma
Lokesh Sharma

Written by Lokesh Sharma

Data Sciennce Manager || M.Sc. Statistics (2018) || I like to express my thoughts through my writings.

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