Statistical Analysis with Python
Han‐I Wang, Christos Manolas, Dimitrios Xanthidis
Abstract
When working with data, one of the main questions one seeks to answer is whether the observed value fluctuations and differences are random or not. If not by chance, what are the key factors that cause such changes, and what are their relationships with the data? Statistical analysis, and in particular inferential statistics, is the key tool for answering these questions. In this chapter, some commonly used statistical functions and the relationship between different types of measurements and statistical tests are introduced, accompanied by demonstrations of how to conduct relevant statistical analysis tasks in Python. The analysis functions follow a linear and incremental order, and build on concepts previously introduced, in order to assist readers with little or no prior experience in this area. For those familiar with the various concepts and functions discussed, this chapter can be used as a refresher or as a practical guide to implementing and executing common statistical functions using the Python platform.