Statistical Modeling Vocabulary

noun a simplified description, especially a mathematical one, of a system or process, to assist calculations and predictions

verb to create a representation or simulation of something in order to analyze or explain it

• The architect presented a detailed model of the new building design.
• She showed me a mini model of the car she wants to buy.
• Check out this sick model of the latest sneaker release!
• The teacher serves as a model of dedication and hard work for her students.

noun the act or process of representing something in a three-dimensional form

verb present participle of the verb 'model', which means to create a representation or simulation of something

• The professor explained the process of mathematical modeling in great detail.
• She's really good at modeling different outfits for her Instagram followers.
• I heard she's been modeling for that new clothing brand.
• He's been modeling his behavior after his favorite athlete.

adjective showing extreme unwillingness to spend money or use resources

adverb in a parsimonious manner

• The company's parsimonious approach to spending has helped them maintain profitability during tough economic times.
• My dad is so parsimonious, he always insists on using coupons whenever we go out to eat.
• I can't believe how parsimonious my roommate is - he never chips in for household expenses.
• Her parsimonious attitude towards sharing knowledge with others only serves to hinder progress in the team.

noun A person who is exceptionally skilled at making accurate predictions about future events

• The superforecaster accurately predicted the outcome of the stock market.
• The superforecaster knew exactly which team would win the game.
• That guy is a total superforecaster when it comes to picking winning lottery numbers.
• She's like a superforecaster when it comes to anticipating trends in the fashion industry.