ECON 2500 Lecture 1: AP ECON 2500 F16 Session 1a
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ECON 2500 Full Course Notes
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Ap econ 2500 f16 session 1a (sep 12 and 14) Statistics is the science of learning from data. An exploratory data analysis is the process of using statistical tools and ideas to examine. The first step in dealing with data is to organize your thinking about the data. data in order to describe their main features. Cases are the objects described by a set of data. Cases may be customers, companies, experimental subjects, or other objects. A variable is a special characteristic of a case. A label is a special variable used in some data sets to distinguish between cases. Different cases can have different values of a variable. A categorical variable places each case into one of several groups, or categories. A quantitative variable takes numerical values for which arithmeticoperations such as adding and averaging make sense. The distribution of a variable tells us the values that a variable takes and how often it takes each value.
