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Descriptive statistics summary for Data science
It does exactly as the name suggest ‘describe’ which summarize the raw data with help of graphs and overall summary and is easily interpretable by humans. In short it helps us understand “What has happened?”
It contains a summary of definition, formula followed by its advantage and disadvantage , which gives a sense of usage of various statistics in what situation.
Population : A data set contain all members of a specified group (the entire list of data values).
Example: The population may be all people living in India.
Sample : A Sample data set contains a part , or a subset of a population. The size of a sample is always less then the size of population from which it is taken.
Example: The sample may be some people living in India.
Summarizing Data
Most commonly called as average.The mean for a set of data values is the sum of all of the data values divided by the total number of data values.
Formula :
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The median of a set of data values is the middle value of the data set when it has been arranged in ascending order, for odd number of value in data set the mid number gives median, while for even number of values in data set, average or mean of mid two values give the median.
When the data are listed in orders, the median is the point at which the 50% of the cases are above and 50% below it is also known as 50th percentile.
Formula :
It is unaffected by the outliers and for a symmetric distribution, the mean and median are identical.
In skewed data, the mean lies further towards the skew then the median as shown below.
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Disadvantages :
Mode is nothing but most popular number in any given data set or population. It is the value which occurs most frequently in a set of observations. It is possible for the data set to be multimodal (have more than one mode) which means more than one observation has the same number of frequencies.
It my give most likely experience rather then the “typical” or “central” experience, for example Which size of a shirt should be kept in a store can be decided on mode value of previous sales of shirt.
Formula :
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It is the spread or distance between the lowest and highest values of a data set (variables).
Formula :
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It is defined as the difference between the (Q1)25th and (Q3)75th percentile (also called the first and third quartile). Hence the interquartile range describes the middle 50% of observations.
If the interquartile range is large it means that the middle 50% of observations are spaced wide apart.
Formula :
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Variance (σ2) in statistics is a measurement of the spread between numbers in a data set. That is, it measures how far each number in the set is from the mean and therefore from every other number in the set.
Formula :
Statisticians use variance to see how individual numbers relate to each other within a data set, rather than using broader mathematical techniques such as arranging numbers into quartiles.
Advantages :
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The problem with variance is that it cannot give the correct representation of the deviation as the result is squared and is in different unit from normal set. To overcome this problem we calculate the SD
Standard deviation (SD) is the most commonly used measure of dispersion. It is a measure of spread of data about the mean. SD is the square root of sum of squared deviation from the mean divided by the number of observations.
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Always use box-plot with respect to scale.
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A very happy and prosperous Happy new year to all medium readers. Thank you for reading the article. Happy learning !!!
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