Model Validation
Introduction
The validation was defined as the process of ensuring that a model represents reality at a given confidence level (create a model that is a reasonable representation of the actual system)
The inability of the model to represent reality may result from the following issues Assumptions
Simplifications
Oversights
Limitations(Practitioner, Modeling software, Data)
Need for validation: assists the practitioner knowing whether it is appropriate to proceed or go back
Two type of validation
1. Face Validity
2. Statistical Validity