3.24 Models: Exercise

Please discuss with your neighbor (or think about it at home)…

  1. What is a model?
  2. What is the relationship between a model and the data?
  3. What do we do when we estimate a model?
  4. What do we do when we predict values using a model?
  5. What is the difference between associational and causal inference?
  6. Please give examples for three assumptions that are quite commonly made in statistical analysis.