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Data: - Data are Fact and figure that are collected, analyzed & summarized for Presentation & Interpretation: Example: Collection of data from stock market for interpretation of stock trend in reference of market
Element: Element are the entities under which any data is collected
Variable: Variable are the things that we can measure, control & manipulate. Variable has two defining characteristics:
Categorical:
Data that can be placed into distinct partition or categories according to some defining characteristic or attribute: Example: Hair Color: Blond, Black, Gray State: UP, Bihar, AP, Delhi Astral Sign: Virgo, Libra, Scorpio Area Code: 301, 302, 303, 304, 305 Vegetable: Carrot, Tomatoes & Patatose
Quantitative Data
Data are numerical in nature It can be ordered Can be use in meaning Computation Example: Amount of water pass from the dam in an hour Actual weight of one pound Candy How many minute you have lived
1. The number value indicate category of a data element 2. Meaningful arithmetic cannot be performed upon data Example of Nominal Data type: Area Code used with Telephone Delhi: 011, Bareilly: 0581, Hyderabad: 040 Course Number
Grade in Exam: A, B, C, D
Size of Automobile: Compact, Full Size, Limousine, etc. Household Income: Low, Middle & High
Quantitative Data Type: Its numerical in Nature. It can be further divided into two category: Interval
Ratio
Quantitative Interval Data: Chartistices of Interval Data Type: 1. Its can be ranked 2. Has precise difference between unit of measure 3. Define value in such a way that interval of data type has significant value
Example:
Measurement of time The scores received on Test (SAT, MAT, GRE)
Quantitative Ratio Data: Ratio of data variable is meaningful True ratio exist when the same information collect from two or more sources Example: Physical Measurement: Height, Length & Weight Money & Monetary Value Frequency etc..
Example:
The Number of Eggs from a chicken The amount of money currently Number of point scored through Football team
1. Has finite number of choices 2. Cant be counted 3. Has no space over a range of value 4. Cant be exactly measure
Example: Height of football players The current temperature outside
Summary:
Data can be singular & Plural Can be either Quantitative & Qualitative Qualitative data can be Nominal, Ordinal and Interval or Ratio can also be based on condition followed by Qualitative data Quantitative Data can be either discrete or continuous