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Week 1 (concepts (Types of Data Analysis (Descpriptive analytics…
Week 1 (concepts
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Categorical Data
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Multinomial Distribution
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each outcome has a probability (p1, p2, p3...) they all sum to 1
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Excel
Formulas
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VAR S
This calculates the sample variance. That is, it divides by ‘n-1’ and not ‘n’. e.g. VAR.S(A2:A11). If you use VAR.P then this is the population variance and divides by ‘n’.
STDEV. S
This calculates the sample standard deviation. That is it divides by ‘n-1’ and not ‘n’. e.g. STDEV.S(A2:A11). If you use STDEV.P then this is the population standard deviation and divides by ‘n’.
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IF
This is a particularly useful function. It has three inputs, e.g. IF(A,B,C). The output of this function is B if A is true and C otherwise. e.g. IF(A1="Male",1,0). In this case we have an indicator for male or female in cell A1. What our IF statement creates is a dummy variable which is 1 for males and 0 for females.
VLOOKUP
This formula allows you to merge two data sets which share a common id. For example, suppose you have one data set with peoples id numbers in and their movie purchases over time. Another data set may also contain peoples ids as well as their names. We could merge these using VLOOKUP based on the common variable, their ids, in each data set.