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Overview of Graphical Techniques

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2016-03-26 7:35:39
Statistics for Big Data For Dummies
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Several different types of graphs may be useful for analyzing data. These include stem-and-leaf plots, scatter plots, box plots, histograms, quantile-quantile (QQ) plots, and autocorrelation plots.

  • A stem-and-leaf plot consists of a “stem” that reflects the categories in a data set and a “leaf” that shows each individual value in the data set.

  • A scatter plot consists of a series of points that reflect observations from two data sets. The plot shows the relationship between the two data sets.

  • A box plot shows summary measures for a data set. The plot takes the form of a rectangle whose shape represents measures such as the minimum value, the maximum value, the quartiles, and so on.

  • A histogram shows the distribution of a data set as a series of vertical bars. Each bar represents a category (usually a numerical value or a range of numerical values) found in a data set. The height of each bar represents the frequency of values in the category. Histograms are often used to identify the distribution a data set follows.

  • A QQ (quantile-quantile plot) compares the distribution of a data set with an assumed distribution.

  • An autocorrelation plot is used to show how closely related the elements of a time series are to their own past values.

About This Article

This article is from the book: 

About the book author:

Alan Anderson, PhD is a teacher of finance, economics, statistics, and math at Fordham and Fairfield universities as well as at Manhattanville and Purchase colleges. Outside of the academic environment he has many years of experience working as an economist, risk manager, and fixed income analyst. Alan received his PhD in economics from Fordham University, and an M.S. in financial engineering from Polytechnic University.

David Semmelroth has two decades of experience translating customer data into actionable insights across the financial services, travel, and entertainment industries. David has consulted for Cedar Fair, Wachovia, National City, and TD Bank.