«Value - added» measurements
use complex statistical models to project a student's future gains based on his or her past performance, taking into account how similar students perform.
With the help of statistics PhDs, we
applied complex statistical models to customer data to identify small tweaks in marketing campaigns — to the tune of millions of dollars of incremental profits.
To forecast the winner, they obtained long - term winning odds of 22 online bookmakers, which in combination
with complex statistical models allow for the simulation of all possible courses of the tournament and results.
Credit Scores / Rates are based on sometimes simple and sometimes
quite complex Statistical Models (Generalised Linear Models, Neural Networks, Regression and Classification Trees, Mixture Models, etc).
The project, called eFLOWER, combined an unparalleled database of plant traits, reams of molecular data on evolutionary relationships, and
complex statistical models to determine what the ancestor of all modern flowering plants might have looked like.
While the «value - added» is calculated by
a complex statistical model devised by the Value - Added Research Center at the University of Wisconsin, the simple idea is to assess the role a teacher has played in improving a student's performance.
The complex statistical model tries to compare, for instance, teachers in poor schools with teachers in other poor schools.