3.16 Models: Example: Mean as a model
- Mathematical equation
- Summaries data (reduces data/predicts data with fewer parameters)
- Simple model: Mean of the distribution of a variable
\[ \begin{aligned} trust2006_{Anna} = 3 = \color{blue}{\overline{y}} \pm \color{red}{\varepsilon}_{Anna} = \color{blue}{6.13} - \color{red}{3.13} \end{aligned} \]
- Mean (= model) predicts Anna’s value with a certain error