Descriptive Statistics - Characterizing the Distribution

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An introduction to descriptive statistics. Using a histogram of a normal distribution, measures of central tendency and dispersion are discussed. Each type of summary measure is related to one dimension of the distribution curve displayed in the histogram.
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No problem...the more you get into it, sometimes it's easy to forget the basics. Glad to help.

MinuteStats
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Awesome! That actually makes sense. I wasnt getting that it was a summation of a few distributions, 4 years in economics and i still have problems translating math into words. Thanks for your help!

Fuzzzboots
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Fuzzzboots, thanks for the question. Here you are multiplying a normal distribution, Ui, by some constants (i.e. v1, v2, v3). For each constant, the new distribution viUi will be normal, with the characteristics of mean = vi*10, and variance = (vi^2)*4. If we assume that each of the three new distributions are independent, then the sum (G) is also normal and has a mean equal to the sum of the three means, and variance equal to the sum of the three variances.

Hope this helps!

MinuteStats
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Hey, thanks for the video. I have a question though, what if you dont have a histogram for a particular distribution, how would you characterize it given some parameters? For example if G=Sum viUi and you know Ui ~ N(10, 4) and v1=3, v2=2, v3=1. How would you characterize it then?

Fuzzzboots