Word of the Day
August 20, 2020
Modeling
The use of mathematical or statistical frameworks to simulate real-world phenomena and predict future outcomes based on assumptions and input variables.
From Latin 'modulus' meaning small measure, via Italian 'modello' referring to a standard or pattern for imitation.
Usage Examples
- Colorado's COVID-19 modeling predicted far more deaths than actually occurred, leading to policies that devastated small businesses.
- Policy makers should rely on real-world data rather than modeling when sufficient empirical evidence exists.
- The modeling assumptions used can dramatically change predicted outcomes and subsequent government responses.
From the Show
The concept of modeling dominated the August 20, 2020 discussion as Karl Dierenbach exposed how Colorado’s inflated COVID-19 projections enabled sweeping government restrictions while ignoring contrary evidence from places like Sweden.