Day 28 of My Learning Journey: Setting Sail into Data Excellence Today's Focus: Mathematics for Data Analysis (Stats Day -7)

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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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