From the course: Python Data Analysis
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Summarizing quantitative data - Python Tutorial
From the course: Python Data Analysis
Summarizing quantitative data
- [Instructor] To understand the dataset, we begin by summarizing it. That is, we quantify both the typical trends of the variables and the variations around them. In short, the distribution of the data. In this video, we'll look at a few simple ways to summarize the distribution of a numerical variable. We'll examine Gapminder data that describes the distribution of incomes in China and in the US in 1965 and 2015. These distributions are not very accurate, but they will be sufficient for our example. For each country and year, we have 1,000 entries corresponding to a sample of 1,000 representative people. One way to describe the variation of a variable is by quantifying its range. However, focusing on these extremes, the minimum and the maximum, is usually not very insightful. It's also imprecise, given that our set is a limited sample of a population rather than a complete census. Both minimum and maximum are statistics, descriptive numbers that we compute from the data and that…
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