2WS30_partI.pdf

# 3 2 1 1 2 3 004 000 theoretical quantiles sample

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-3 -2 -1 0 1 2 3 -0.04 0.00 Theoretical Quantiles Sample Quantiles PSI20 Daily returns Birth weight Too many points away from the line -3 -2 -1 0 1 2 3 1500 4000 Theoretical Quantiles

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I.41 Quantile-Quantile Plots -3 -2 -1 0 1 2 3 1500 2500 3500 4500 Normal Q-Q Plot Theoretical Quantiles Sample Quantiles
I.42 What s Next Now that we can summarize and represent data in nice ways we would like to make meaningful statements about the population that gave rise to this data. For this we need to make some assumptions, leading into the notion of a Statistical Model . In this course will focus mainly on one one type of statistical model. However, going beyond this model will not be hard given the foundational knowledge you ll develop. Important!!! All models are wrong… …but some are useful. (George E.P. Box)
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