Abstract
Prediction is always a fascinating obsession no matter what we predict. We predict what tomorrow’s weather will be, which team will win the game, who will be the next president of the United States, how fast one will run and how high one will jump, and even how much money we will make next year. Mathematical and statistical models have been used to predict future events in different disciplines. Some prediction models can be used to predict spe-cific magnitudes of an event in the future. For example, because of the high technology development in the last two decades, the models used for weather forecasting became more and more accurate. In some other fields, the predic-tion models are actually not for a specific magnitude of an event in the future but for predicting various developmental trends in the future. For example, statistical models are commonly used for predicting the developmental trends in stocks but not for predicting specific values of the stocks.
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Liu, Y. (2004). Track and Field Performance Data and Prediction Models: Promises and Fallacies. In: Butenko, S., Gil-Lafuente, J., Pardalos, P.M. (eds) Economics, Management and Optimization in Sports. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-24734-0_13
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DOI: https://doi.org/10.1007/978-3-540-24734-0_13
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