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This is a podcast and it can be found here. Basically, an interview of Nate Silver, the stat head behind FiveThirtyEight.com.
They have made thousands of predictions on politics and sports (which they publish) and consider their competition to be betting sites and other modelers. Nate used to play professional poker.
What I found interesting was how they go about calibrating their statistical models by comparing predictions.
Because they have so many results (large numbers of predictions paired with results; sports is good for this), and how successful they have been (by some statistical analysis) they can look at how accurate their predictions were.
From that point, they try to improve their model.
They have made thousands of predictions on politics and sports (which they publish) and consider their competition to be betting sites and other modelers. Nate used to play professional poker.
What I found interesting was how they go about calibrating their statistical models by comparing predictions.
Because they have so many results (large numbers of predictions paired with results; sports is good for this), and how successful they have been (by some statistical analysis) they can look at how accurate their predictions were.
From that point, they try to improve their model.