Establish the statistical foundations required for robust data analysis. This module focuses on understanding data types, visualizing distributions, and summarizing historical data with direct application to business problems.
Outcomes
By the end of this module, you will be able to:
- Differentiate between qualitative, quantitative, discrete, and continuous variables.
- Construct frequency and density histograms, as well as boxplots, to analyze data distribution and skew.
- Calculate and interpret mean, median, variance, standard deviation, and interquartile range (IQR).
- Apply the three-sigma rule and IQR method to detect outliers and make probabilistic business estimates.
Tools you will practice with:
Python • pandas • numpy • matplotlib