My friend and colleague, Myke King, wrote an article1 proposing rules for dealing with inferential control models. For the most part, I agree with the arguments, and especially enjoyed the funny illus..
My friend and colleague, Myke King, wrote an article1 proposing rules for dealing with inferential control models. For the most part, I agree with the arguments, and especially enjoyed the funny illustration of how a supposedly high-fidelity inferential model failed to predict stock disasters. However, I have issues with two of Myke's points: how to assess inferential model performance and the benefit of engineering models vs. regression models.
Plotting preferences.
Advice 3 in the article argues that trending an inference model against lab results tricks the eye into believing that an inference is performing well, whereas an X-Y scatter plot of the model against lab results would
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