Sometimes, being rational is easy. When there exists a reliable statistical prediction rule for the problem you’re considering, you need not waste your brain power trying to make a careful judgment.
Unfortunately linear models for a lot of situations are simply not available. The dozen or so ones in the literature are the exception, not the rule.
And those that exist are not always easy to find. And those that are found are not always easy to use in industry (where sophisticated computer skills are often the things the marketing grad taught erself to do in Excel).
Unfortunately linear models for a lot of situations are simply not available. The dozen or so ones in the literature are the exception, not the rule.
And those that exist are not always easy to find.
And those that are found are not always easy to use in industry (where sophisticated computer skills are often the things the marketing grad taught erself to do in Excel).