Predictive ModelingPredictive modeling is one of the hot topics today in market research, lending, health care and others. The model predicts the probability of something happening based on demographic or other data that is useful for predicting a specific occurrence or non occurrence of an event. Note the results are expressed as probabilities, if you prefer, think of a probability of .95 as equivalent to an event that happens 95% of the time. Test the model for various values. For the salary choice, values of 0 to 200,000 are best for the model. Salaries beyond 200,000 are beyond the range of the data used to derive the model and will not give reliable results.
