{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

summary

# summary - Business statistics Chapter 2 Graphical...

This preview shows pages 1–2. Sign up to view the full content.

Business statistics Chapter 2 Graphical descriptive methods 2.1) Variable is a characteristic of a population or sample. The values of variable are the possible observations of the variable. Data are observed values of a variable. Numerical Data (quantitative) - Values are real numbers - All calculations are valid - Data may be treated as ordinal or nominal. Nominal Data (categorical or qualitative) - Values are arbitrary numbers that represent categories - Only calculations based on the frequencies of occurrence are valid - Data maybe not be treated as ordinal or numerical. Ordinal Data (ranked) - Values must represent the ranked order of the data - Calculations based on ordering process are valid - Data may not be treated as ordinal or numerical. Data can also be classified according to whether the observations are measured at the same time- cross sectional data - or whether they represent measurements at successive points in time- time series data.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### Page1 / 2

summary - Business statistics Chapter 2 Graphical...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online