I can prove anything by statistics except the truth.
— George Canning
Statistics is a vast field. The tools and results the field provides have become indispensible for finance. This also explains the popularity of domain-specific languages like
R in the finance industry. The more elaborate and complex statistical models become, the more important it is to have available easy-to-use and high-performing computational solutions.
A single chapter in a book like this one cannot do justice to the richness and the broadness of the field of statistics. Therefore, the approach—as in many other chapters—is to focus on selected topics that seem of paramount importance or that provide a good starting point when it comes to the use of
Python for the particular tasks at hand. The chapter has four focal points: