I was studying regression and came across the terms statistical and mathematical models. Can anyone please elaborate how a statistical model is different from a mathematical model?
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I don't suppose there is a clear cut formal difference. In practice, I'd say that people call something a mathematical model if it is (largely at least) derived from assumptions regarding hte system being modeled. By contrast, a statistical model would be one which is dictated primarily dictated by the data. Of course, there is heavy overlap between these cases. – lulu Feb 03 '21 at 12:18
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According to wikipedia a statistical model is also a matematical one. I guess we tend to use the former for the reason given by lulu in his comment. – nicomezi Feb 03 '21 at 12:21