STATISTICS FOR DATA ANALYTICS - 7
Measure of SHAPE : -
Skewness :- measure of symmetry .
Symmetrical distribution has
mean = median = mode.
Type
Positive ( right skew ) :- Peak of the data is on the Left side .
Most extreme value is on right side
Mean > Median > Mode
Eg :- Result.
Negative ( left skew ) :- Peak of the data is on the Right side.
Most extreme value is on left side
Mean < Median < Mode
Eg :- Age of death.
Importance : -
It shows the direction of the outliers.
Kurtosis : -
It identifies whether the tails of a given distribution contain extreme values when compared to Normal distribution.
Heavy Tail : - more outliers.
Use case :-
Banking and stock market. For risk analysis.
Types
Mesokurtic ( normal distribution )
Ideal value = 3
Leptokurtic ( positive kurtosis )
Heavy tails 3< values
Platykurtic. ( negative kurtosis )
Flat Tails 3>values
Box- whisker plot
BOX plot summarises the data to give us an overview.
Histogram :-
It shows the spread of data.
No.of bins = buckets. ( no. of portions in which data is separated ).
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