Other Considerations
Explore key considerations for analyzing economic development data using Python. Learn to validate data accuracy, identify bias through residual plots, and differentiate correlation from causation to interpret your data correctly. This lesson guides you in making informed insights while working with GDP and economic freedom datasets.
We'll cover the following...
We'll cover the following...
Misconception about data
When interpreting our plots, we should always seek to validate what we see in the context of the real world. If, for instance, the data is too good to be true, then it probably isn’t true.
Example
For example, residual ...