Statistical models are mathematical representations that help us understand and analyze data. They allow researchers to make predictions and draw conclusions based on observed patterns. By using various techniques, such as regression and hypothesis testing, statistical models can provide insights into relationships between variables and help in decision-making processes. These models can be simple, like linear regression, or complex, involving multiple variables and interactions. They are widely used in fields such as economics, psychology, and healthcare to interpret data and guide research. Understanding statistical models is essential for anyone looking to make data-driven decisions.