sumsur/Violin-plot-vs-Box-plot-in-Python sumsur/Violin-plot-vs-Box-plot-in-Python

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sumsur/Violin-plot-vs-Box-plot-in-Python
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sumsur

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Insurance companies are particularly interested in the density of claims that are received, which can be large at the end of each month. For this question, descriptive statistics method, such as violin plot, shows the density of distribution occupied by the observed data. This method is similar to the box plot analysis, but there are several differences. Violin plot is a method of plotting numeric data, while a box plot only shows summary statistics such as mean/median and interquartile ranges. The violin plot shows the full distribution of the data. The difference is particularly useful when the data distribution is multimodal (more than one peak), such in this case. So, I analysed database on the number of reported motor insurance claims for the period January 2007 - December 2017 to the Danube insurance company, whose source is the National Bank's website. This project shows a violin plot/box plot analysis of received insurance claims.

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