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Politics : President Barack Obama
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To: Sr K who wrote (125182)10/26/2012 11:02:02 AM
From: manalagi  Read Replies (1) of 149317
 
That's backtesting. Exactly!
You look at the previous data, try to create a model that fits the data, and chose the one that gives the results you want, and claim it is a predictive tool.

It is just like saying: I flipped a penny 100 times with my sun glasses on. It came Head 65 times. So, if you want Head comes up more often in a penny toss, wear your sunglasses. Yeah, some professors who are deep in theories but lacking in the real world experience, do teach and publish books, and might even get the Nobel Prize for economics!
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