What "equation" are you talking about? Are you under the impression that this question makes any sense at all?Yann said:I have two sets of data. The first is the observed value for a number of objects, the second is the predicted value for those objects. I want to know how much, in %, my equation is able to predict. What's the name of the statistical test to know that ?
The purpose of calculating prediction accuracy using statistical test is to determine the effectiveness and reliability of a prediction model. It helps to evaluate how well the model can predict future outcomes based on past data.
The steps involved in calculating prediction accuracy using statistical test include selecting a suitable statistical test, collecting data, performing the statistical test, and interpreting the results. The specific steps may vary depending on the type of test being used.
Some common statistical tests used to calculate prediction accuracy include t-test, ANOVA, chi-square test, regression analysis, and correlation analysis. The choice of test depends on the type of data and the research question being investigated.
The results of a statistical test for prediction accuracy can be interpreted by comparing the observed value with the critical value or p-value. If the observed value is greater than the critical value or the p-value is less than the chosen significance level, the prediction model can be considered statistically significant.
Some limitations of calculating prediction accuracy using statistical test include the assumption of normality and homogeneity of variance in the data, potential for Type I and Type II errors, and the need for a large sample size. It is also important to consider the context and relevance of the results in practical applications.