Descriptive Statistics — Basics & location parameters

• What do we mean by “data”?
• Types of data and data types
• Stocks vs. flows, levels vs. changes
• Absolute and relative differences
• The importance of data sources
• Missing data
• Histograms
• Measures of Central Tendency: Ordinal Data
• Measures of Central Tendency: Cardinal Data
• Measures of Central Tendency: More properties
• Quantiles
• Statistics conditional on other variables