A Methodology for Determining the Predictive Accuracy of Mathematical Models from a Limited Data Base

Abstract A split-sample testing scheme has been combined with a Monte Carlo analysis to develop a methodology for defining the accuracy of mathematical models when used in a predictive mode. The data pool available to the modeler is subdivided into calibration and verification subsets in an iterative and random manner. This calibration/verification procedure is repeated a large number of times. The methodology was found to have significant advantages when compared to more traditional approaches to defining model reliability.