With any statistical model, we assess the fit. Does the model accurately depict the truth? Explain how standard deviation helps to assess the "Fitness" of the mean.

With any statistical model, we assess the fit. Does the model accurately depict the truth? Explain how
standard deviation helps to assess the "Fitness" of the mean.
The statistical model assess the fit but the questions is how much accurate the model or how much
variation is explained by the model. It all depends on the model and the variable we have considered.
The variation plays a very important role in depicting the fit of a model. If the...