Time Series, QQ plot
Hi, I am going through the Time Series Analysis section, studying the qq-plot.
When I tried to go deep in the scipy.stats.proplot in (https://docs.scipy.org/doc/scipy/reference/generated/scipy.stats.probplot.html#scipy.stats.probplot)
I read the following:
'
probplot generates a probability plot, which should not be confused with a Q-Q or a P-P plot. Statsmodels has more extensive functionality of this type, see statsmodels.api.ProbPlot.'
I learnt that, QQ plot is plotting the quantiles of two data set against each other.
Is scipy.stats.proplo here plotting the quantiles of probability distribution of the given data against a normal distribution, which is very like a QQ-plot? kinda confused.
Many Thanks!!
1 answers ( 0 marked as helpful)
Hey Minli
The QQ plot compares the qunatiles of two different distributions - the first one being the variable we're mapping and the second one being a theoretical distribution (like the normal one).
As for the code, the two functions are essentially equivalent and here is a snippet of the code and output using either function.
Best,
365 Vik
Best,
365 Vik