Variables are the characteristics of the individual that are measured or observed. They vary from one entity to another.
A Quantitative variable is a characteristic that can be measured numerically and the difference between the values are meaningful.
Let’s take a set of students, their year of admission, year of graduation, their final percentage of marks are all numerical values and they can be measured. Hence, they are quantitative.
A student may have a phone number, it’s numeric but it cannot come under Quantitative variables as the differences between phone numbers are not meaningful.
There are two types of Quantitative…
When I decided to get into Data Science, I came to know that Statistics played an integral part in this field. I referred to many online resources, and I have put together a series of tutorials from everything that I have learned in a much simpler way. I hope you would all find it useful and easy to understand.
Statistics already exist in our everyday lives. It’s not an unknown jargon to be afraid of. We collect data, organize them, analyze and interpret some useful information from them every day to make better decisions.
Let me give you an example…