10_15_15

1) Woops, someone made me realize I have some "ordinal" categorical variables: Size: vlow,low,med,large,vlarge. There is an order to their naming.
  • vlow is furthest from vlarge
  • vlarge is closer to large
  • etc.
The question is, how to convert them to numeric values with proportional distance relationships.






PRINCIPLES
"Statistical moments": Shape of a set of points
Ex. Points representing probability density
0th moment: total probability ie. 1
1st moment: mean
2nd moment: variance
3rd moment: skewness
4th moment (with normalization and shift): kurtosis (high or low arch)

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