Organisation of Data Test - 3

The range of values of a given class is called a class interval, the boundaries of an interval are called class limits, and the middle of a class interval is called the class mark

The range of values of a given class is called a classinterval. It is defined as the difference between the upper class limit and the lower class limit.

The mid-points of the class interval is obtained by calculating the mean of the lower and the upper limits of the intervals.The mid-points of class-intervals of various class group are called mid-values. MV= (Lower limit + Upper limit) / 2.

If, in a frequency distribution, the initial class interval is indeterminate at its beginning and/or the final class interval is indeterminate at its end, the distribution is said to possess “open ended” classes. A class has either no lower class limit or no upper class limit in a frequency table is called an open-end class.

The repetition of number is a data set is termed as frequency of that particular number or the variable in which that number is assigned. The frequencies of variables in a data are to be listed in a table. This table is known as frequency distribution table and the list is referred as frequency distribution. 

There are many types of frequency distributions

1. Grouped frequency distribution
2. Ungrouped frequency distribution
3. Cumulative frequency distribution
4. Relative frequency distribution
5. Relative cumulative frequency distribution

An inclusive series includes the upper limit and the lower limit in the class interval. In such series the upper limit of class interval does not repeat itself as a lower limit of the next class interval.

 A class has either no lower class limit or no upper class limit in a frequency table is called an open- end class. An open ended distribution means that one or more of your classes is open-ended. In other words, it doesn't have a boundary.

Tally marks are a quick way of keeping track of numbers in groups of five. One vertical line is made for each of the first four numbers; the fifth number is represented by a diagonal line across the previous four.

The total frequency of all classes less than the upper class boundary of a given class is called the cumulative frequency of that class. “A table showing the cumulative frequencies is called a cumulative frequency distribution”. 

A variable interest rate is an interest rate on a loan or security that fluctuates over time, because interest rate or index changes periodically.