On the other hand, area codes and zip codes are not numerical, but rather they are categorical variables. ![]() This variable is numerical since we can sensibly discuss the numerical difference of the size of two loans. Mastery of the content presented in this chapter will be crucial for understanding the methods and techniques introduced in the rest of the book.Ĭonsider the loan_amount variable from the loan50 dataset, which represents the loan size for each of 50 loans in the dataset. The summaries and graphs presented in this chapter are created using statistical software however, since this might be your first exposure to the concepts, we take our time in this chapter to detail how to create them. This chapter focuses on exploring numerical data using summary statistics and visualizations.
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