Statistical Model Quotes

“The name overfitting comes from the way that statistical models are “fit” to match past observations. The fit can be too loose—this is called underfitting—in which case you will not be capturing as much of the signal as you could. Or it can be too tight—an overfit model—which means that you’re fitting the noise in the data rather than discovering its underlying structure.”
― Nate Silver, The Signal and the Noise: Why So Many Predictions Fail—But Some Don't