About this module
Now we summarize observations without losing sight of what the summary preserves.
A set of settlement delays will become counts, averages, weighted rates, ranks, percentiles, and distribution views.
The same five numbers will repeatedly teach different questions; we will not declare one summary universally best.
Lessons
- Lesson 31
Count, Sum, Minimum, Maximum, and Range
Inspecting settlement delays before modeling them
2:25 - Lesson 32
Arithmetic Mean
The mean as a balance point, not a typical actual observation
2:29 - Lesson 33
Weighted Mean
Pooling merchant approval rates by exposure
2:32 - Lesson 34
Median and Mode
A typical settlement delay by order and frequency
2:22 - Lesson 35
Trimmed and Winsorized Means
Reducing outlier influence without pretending data vanished
2:34 - Lesson 36
Percentiles, Quantiles, and Quartiles
A percentile is incomplete without its interpolation rule
2:34 - Lesson 37
Ranks, Ties, and Percentile Rank
Tied scores need a fair, explicit rank convention
2:38 - Lesson 38
Frequency Tables and Relative Frequency
Turning payment status counts into a denominator-aware summary
2:39 - Lesson 39
Histograms and Empirical Distribution Functions
A histogram changes with bins; an ECDF preserves sample order
2:29 - Lesson 40
Five-Number Summary and Box Plot
A box-plot fence is not an observed whisker
2:30