A Chi-Square Statistic is a measure of how accurately a model predicts observed data. It is used to determine whether the model is good at predicting outcomes, and to identify which factors are important in the outcome. The chi-square statistic can be applied to any type of data, including categorical and numerical data.One advantage of using the chi-square statistic is that it can be used to compare more than one model at a time. This makes it an ideal tool for identifying the best model for predicting outcomes. Another advantage of using the chi-square statistic is that it can identify which factors are important in predicting an outcome. This information can be used to create a better model or improve an existing one.