George E. P. Box

I want to start with Cynthia and to preface this with a comment.

Sal Tannenbaum reminded us of a famous quote from George Box, which is, all models are wrong, but some are useful.

In that spirit, Rabbi Mishalani asked this question.

Cynthia, you pointed out that LBS data provided by Replika, presumed Streetlight as well, are modeled data.

Unlikely, but more possible for the common man now than ever due to AI.

Now, still, I go to the quote from George E.P. All models are wrong, but some are useful.

Until you get to the point where you fully trust your model, there needs to be a certain level of skepticism.

Some of you might not be creating a full model, but you're fully trusting a specific technical indicator.

No, no.

That's George Box, the mathematician

who said that.

Pretty sure.

...

George Box, yeah.

So they-

Yeah

This was in David's book, but it didn't originate with him.

It actually originated with George Box, who is a statistician.

[gentle music] "All models are wrong, but some are useful."

All models are wrong, yeah.

But this comes from the quote by George Box, all models are wrong, but some are useful.

So in this case, at least for the bank, you made a useful model, perhaps, in terms of

their bottom line.

We can think of it with alternating single and double bonds, or we can imagine the pi bond smeared across the whole molecule and represent that resonance hybrid with a dotted line or a circle in the middle.

As the statistician George Box famously said, "All models are wrong, but some are useful," and that's definitely the case here.

Neither diagram is completely right or completely wrong, but both have their uses.

The alternating bonds version is helpful when we're trying to show which way electrons move in mechanisms.