ECO221_LECTURE4

Exploratory Data Analysis

A method used to analyze data sets to summarize their main characteristics, often with visual methods.

Scatterplot

A graph that shows the relationship between two quantitative variables measured on the same units of observation.

Response Variable

The variable that measures an outcome of a study.

Explanatory Variable

The variable that explains or causes changes in the response variable.

Association between variables

Two variables are associated if knowing the value of one provides insight into the value of the other.

Outlier

An individual value that falls outside the overall pattern of the relationship in a dataset.

Causality

The relationship in which one event is affected by another; establishes a connection between cause and effect.

Positive Relationship

A relationship where one variable increases as the other variable increases.

Negative Relationship

A relationship where one variable increases as the other variable decreases.

Linear Relationship

A relationship where the data points roughly follow a straight line.

Non-Linear Relationship

A relationship where data points do not follow a straight line.

Strength of Relationship

Refers to how closely the data points conform to a given pattern or trend within a scatterplot.

Bar Graph

A chart that presents categorical data with rectangular bars, where the length of the bar is proportional to the value it represents.

Display the Relationship

The process of showing how two variables relate to each other, commonly through graphs such as scatterplots.

Exploratory Variables

Variables considered for their potential influence on response variables.

Data collection motivations

Reasons or incentives behind gathering data, determining its reliability and context.

Distribution

The manner in which values of a variable are spread or arranged.

Line Graphs

A type of chart that displays information as a series of data points called 'markers' connected by straight line segments.