## Fox Module 3 Univariate displays

 Author Message NEAS Supreme Being Group: Administrators Posts: 4.2K, Visits: 1.2K Fox Module 3 Univariate displays            Histograms           Non-parametric density estimation           Quantile comparison plots           Box-plots  The introduction to Chapter 3, “Examining Data,” describes Anscombe’s quartet. This is a fascinating group of four data sets that differ one from the other but have similar regression characteristics. Read Section 3.1.1, “Histograms,” on pages 28-30. Know how to interpret a stem and leaf display. Fox shows an example on page 29. Read Section 3.1.2, “Non-parametric density estimation,” on pages 30-34. The formulas for the optimal bin width are not tested on the final exam. Know equation 3.3, and Fox’s comment that “the factor 1.349 is the interquartile range of the standard normal distribution, making (interquartile range)/1.349 a robust estimator of ó in the normal setting.” This robust estimator is useful for much actuarial work. If you have a sample of data points with suspected data errors and outliers, the usual estimators for ó may not work well. Use instead this robust estimator, which is less affected by data errors and outliers. Read Section 3.1.3, “Quantile comparison plots,” on pages 34-37. Focus on Figures 3.8 and 3.9. The final exam may give a quantile comparison plot and ask if the distribution is heavy or light-tailed (compared to a normal distribution) and if it is positively or negatively skewed. Read Section 3.1.4, “Box-plots,” on pages 37-40. Know what the hinges represent in a box plot. The box on page 40 summarizes univariate displays.             The final exam asks you to choose transformations based on the quartile hinges.            The homework assignment for a later module shows the type of exam problem.           Understand the hinges and box-plots in this module to help with these problems.  Quantile comparison plots show if a sample is normally distributed or another distribution.  The textbook explains the theory; both Excel and R draw quantile comparison plots.   Attachments Fox Module 3 Univariate displays.pdf (2.1K views, 39.00 KB) bubba gump Forum Newbie Group: Forum Members Posts: 6, Visits: 1 I had a question about quantile plots1 both tails above line = positive skew2 both tails below line = negative skew3 upper tail above, lower tail below = heavy tail4 Is there a scenario upper tail below, lower tail above? If so what does that mean5 Can one tail be along the line (i.e. not above/below) and the other tail is above/below? Thanks[NEAS: Thin tailed distributions for #4; a uniform distribution is thin tailed, since the likelihood is zero in the tails. For #5, join two distributions: normal on one side and something else on the other side.] Nicholas Chu Forum Newbie Group: Forum Members Posts: 4, Visits: 1 Why there are some datas in Figure 3.8 and 3.9 with Normal Quantiles less than -2?Shouldn't all datas are more than -2 Quantiles?[NEAS: 100 observations give values between 3 and +3 standard deviations in a normal distribution.] hoosiers Forum Newbie Group: Forum Members Posts: 1, Visits: 96 What would a light-tailed distribution look like?[NEAS: The opposite of a heavy tailed distribution. To see the plot, use a uniform distribution (using R or another statistical package). Edited 5 Years Ago by NEAS
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