Prediction Accuracy
Better than a coin toss
The model that we use to predict acceptance to
the schools that we keep track of succeeds at predicting
about 75% of admissions results. That's way better
than flipping a coin, and it's better than we expected
considering that we know little more than scores and some
basic demographic information.
Caveats:
The fact that
we can't predict 25% of results clearly means that you should
not take a prediction as a guaranteed result.
For most
schools we're still dealing with a small amount of data. Schools
with little data won't give reliable predictions given
the statistical methods that we're using.
Even
for schools where we've got plenty of data, the subset of people
who use this site is most likely skewed.
You ≠ Numbers