import pandas as pd

numbers = {'set_of_numbers': [1,2,3,4,5,6,7,8,9,10]}
df = pd.DataFrame(numbers,columns=['set_of_numbers'])

df.loc[df['set_of_numbers'] <= 4, 'equal_or_lower_than_4?'] = 'True' 
df.loc[df['set_of_numbers'] > 4, 'equal_or_lower_than_4?'] = 'False' 

print (df)