Histogram - a visual summary of the distribution for a quantitative variable

• Change the Bins or Width of Bins
• Increase the number of bins (each bin gets narrower)
• Increase the bin width (reduces the number of bins)
• Range = Max Value - Min Value
• \(Binwidth = \frac{Range}{\#of Groups}\)
• \(\approx Groups = \frac{Range}{Width}\)

Range = 833.2 Width = 416.6

Range = 833.2 Width = 8.332

The histogram provides a picture of the symmetry of the distribution - A symmetric histogram will have approximately the same density on both sides if you cut the distribution in half. - An asymmetric histogram will have uneven density of both sides if you cut the distribution in half.

A right skew distribution is characterized as a distribution where there are few extreme values in the right tail of the distribution .

• Market Cap Example
• Income in the U.S.

A left skew distribution is characterized as a distribution where there are few extreme values in the left tail of the distribution .

• Age of death from natural causes
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