model

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Model

Any mathematical formula or other structure that economists use to explain or predict occurrences. Economists test their models with real world facts before they gain wide acceptance, but, even then, there is no guarantee that a model will always be a correct predictor. See also: Model risk.

model

An abstraction of reality, generally referring in investments to a mathematical formula designed to determine security values. Economists also use models to project trends in economic variables such as interest rates, economic activity, and inflation rates.

model

see ECONOMIC MODEL.
References in periodicals archive ?
The casting model can be "cut" along a plane of symmetry; only a portion of the casting then needs to be modeled, with exactly the same results as if the entire casting were modeled.
Certain complicated castings may require a patternmaker to build a casting model to better understand the complexities of the tooling needed to produce the part.
Among the lineup are 10 spinning and 10 trigger casting models ranging from 6 1/2 feet to 8 feet, at suggested retail prices from $205 to $270.