Quantitative Business Analysis QBA 120 Lecture Notes - Lecture 2: Variance, Frequency Distribution, Squared Deviations From The Mean
17 Aug 2016
School
Department
Professor
Document Summary
The value of a qualitative variable can be classified only into categories called classes. Class frequency is the number of observations in the data set that fall into each class. Class relative frequency is the proportion of the total number of observations falling into each class. Class percentage is the class relative frequency multiplied by 100. Bar graph: the categories (classes) of the qualitative variable are represented by bars, where the height of each bar is either the class frequency, class relative frequency, or class percentage. Pie chart: the categories (classes) of the qualitative variable are represented by the slices of a pie (circle) The size of each slice is proportional to the class relative frequency. Pareto diagram: a bar graph with the categories (classes) of the qualitative variables (i. e. the bars) arranged by height in descending order from left to right. Quantitative data sets consists of data that are recorded on a meaningful numerical scale.
