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Tutor profile: Michael F.

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Michael F.
Data Analyst with interests in Statistics, Python programming, Data science, Economics, etc.
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Questions

Subject: Python Programming

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Question:

With respect to DataFrames, if you wanted to create a DataFrame from a MS Excel spreadsheet, which standard library package would be able to both import the data as well as generate a DataFrame from the data?

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Michael F.
Answer:

pandas

Subject: Economics

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Question:

What is the fundamental difference between Classical and Keynesian Economics with regard to the role of government in an economic system? (hint: Aggegregate Demand)

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Michael F.
Answer:

The central contrast between Classicalists and Keynesians is whether or not the government should step in and help stimulated aggregate demand when the economic system is in a recession and/or depression. Classical Economists would argue that the government should not get involved since the 'Invisible Hand' of capitalism--i.e. market mechanisms--will most efficiently correct the economic downturn naturally. Keynesians on the other hand argue that it is the government's responsibility to step in and stimulated demand through government spending on things like public works.

Subject: Statistics

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Question:

What are the major differences between the Bayesian and Frequentist schools of statistics?

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Michael F.
Answer:

The major difference between Bayesian and Frequentist statistics has to do with subjectiveness. Bayesian statistics is more subjective in that a Bayesian statistician begins already having some pre-defined beliefs about the probability distribution of possible values of the unknown parameter. Moreover, a Frequentist uses statistical inference based on sample data emphasizing the frequency and proportion of data.

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