Navigation:  Statistics and Data Analysis > Type 2: Statistics via Starter Views (Race Data Form) >

Evaluating Accuracy of Prediction Models

Print this Topic Previous pageReturn to chapter overviewNext page

Normally a view which acts as a prediction model should have a betting index column. Follow the steps below to evaluate the accuracy of the betting index.

1.Click on the [Stat] button under the view list.



2.When the "Evaluation of Betting Index" form (figure below) shows, you may do a number of things.
You may set a evaluation period
Every time you open the a view, the cell values of the view will be cached into the Cache folder. If you are confident of these cached results, you may choose [Use Cached Results]. On the other hand if you want to recalculate all cell values, choose [Recalculate All Formulae].
You may optionally define a filter to carry out the evaluation only on the races satisfying your filter
You may exclude some races by setting the [Highest B.I.] restriction


3.Click on the [Calculate] button to start the evaluation. Results will be shown on the lower part of the form. On the form below, you can see that if you have betted on Wins only (according to the betting index of the "Expected Speed" view), you should have won 32% (1 dollar betting returns 1.32 dollars)


4.If you want to view all the winning races, click on the [1] button to show the list.






Page url: