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Building Statistical Models in Python

You're reading from  Building Statistical Models in Python

Product type Book
Published in Aug 2023
Publisher Packt
ISBN-13 9781804614280
Pages 420 pages
Edition 1st Edition
Languages
Concepts
Authors (3):
Huy Hoang Nguyen Huy Hoang Nguyen
Profile icon Huy Hoang Nguyen
Paul N Adams Paul N Adams
Profile icon Paul N Adams
Stuart J Miller Stuart J Miller
Profile icon Stuart J Miller
View More author details

Table of Contents (22) Chapters

Preface 1. Part 1:Introduction to Statistics
2. Chapter 1: Sampling and Generalization 3. Chapter 2: Distributions of Data 4. Chapter 3: Hypothesis Testing 5. Chapter 4: Parametric Tests 6. Chapter 5: Non-Parametric Tests 7. Part 2:Regression Models
8. Chapter 6: Simple Linear Regression 9. Chapter 7: Multiple Linear Regression 10. Part 3:Classification Models
11. Chapter 8: Discrete Models 12. Chapter 9: Discriminant Analysis 13. Part 4:Time Series Models
14. Chapter 10: Introduction to Time Series 15. Chapter 11: ARIMA Models 16. Chapter 12: Multivariate Time Series 17. Part 5:Survival Analysis
18. Chapter 13: Time-to-Event Variables – An Introduction 19. Chapter 14: Survival Models 20. Index 21. Other Books You May Enjoy

Understanding data types

Before discussing data distributions, it would be useful to understand the types of data. Understanding data types is critical because the type of data determines what kind of analysis can be used since the type of data determines what operations can be used with the data (this will become clearer through the examples in this chapter). There are four distinct types of data:

  • Nominal data
  • Ordinal data
  • Interval data
  • Ratio data

These types of data can also be grouped into two sets. The first two types of data (nominal and ordinal) are qualitative data, generally non-numeric categories. The last two types of data (interval and ratio) are quantitative data, generally numeric values.

Let’s start with nominal data.

Nominal data

Nominal data is data labeled with distinct groupings. As an example, take machines in a sign factory. It is common for factories to source machines from different suppliers, which would also have different...

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