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Organisation of Data Test - 3

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Organisation of Data Test - 3
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  • Question 1
    1 / -0

    A characteristic of variable interest rate is

    Solution

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

  • Question 2
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    Orderly arrangement of data ultimately takes the shape of a

    Solution

    A frequency distribution is a table that displays the frequency of various outcomes in a sample. Each entry in the table contains the frequency or count of the occurrences of values within a particular group or interval, and in this way, the table summarizes the distribution of values in the sample.

  • Question 3
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    It is the process of arranging things in groups or classes according to their resemblances

    Solution

    The process of arranging data into homogenous group or classes according to some common characteristics present in the data is called classification.

  • Question 4
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    The frequency distribution of two variables is known as

    Solution

    Bivariate distribution is the combined probability distribution of two randomly different variables. Normally, these can be plotted graphically on x and y axes so their relationship can be analyzed and any relevant causal effect can be identified. This type of data analysis is useful in risk management.

  • Question 5
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    An open-end class is the class which lacks

    Solution

    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.

  • Question 6
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    Range is the

    Solution

    The Range is the difference between the lowest and highest values. To find the range, first order the data from least to greatest. Then subtract the smallest value from the largest value in the set.

  • Question 7
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    Classification data based on the geographical differences of the data is

    Solution

    Spatial dependence is measured as the existence of  statistical dependence in a collection of random variables, each of which is associated with a different geographical location.

  • Question 8
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    ________ of the data refers to the arrangement of figures in such a form that comparison of the mass of similar data may be facilitated and further analysis may be possible

    Solution

    The data information collected through different sources should be organized. The information arranged in an ascending order is known as the array of data. The set of information related to specific entity is called the field.

  • Question 9
    1 / -0

    The series in which lower limit of the class interval or the upper limit of last class interval is missing

    Solution

    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.

  • Question 10
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    Difference between upper or lower limits

    Solution

    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.

  • Question 11
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    Inclusive series

    Solution

    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.

  • Question 12
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    Which variable increase in jumps or in complete numbers

    Solution

    Discrete variable over a particular range of real values is one for which, for any value in the range that the variable is permitted to take on, there is a positive minimum distance to the nearest other permissible value. The number of permitted values is either finite or countably infinite.

  • Question 13
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    Continuous variable assumes _________

    Solution

    If a variable can take on any value between its minimum value and its maximum value, it is called a continuous variable.

  • Question 14
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    A range of values which incorporates a set of items is called

    Solution

    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

  • Question 15
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    Series of statistical data with one variable only is called

    Solution

    A series of individual observations is a series in which items are listed individually.

  • Question 16
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    Average value of the upper and lower limits

    Solution

    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.

  • Question 17
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    Following are the types of frequency distribution except

    Solution

    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
  • Question 18
    1 / -0

    Series in which frequencies are continuously added corresponding to each class interval in the series

    Solution

    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”.

  • Question 19
    1 / -0

    Cumulative frequency distribution records frequencies on

    Solution

    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”. There are two types of cumulative frequency distributions: less than cumulative frequency distribution and greater than frequency distribution.

  • Question 20
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    Chronological classification is

    Solution

    When data are observed over a period of time the type of classification is known as chronological classification. Such type of classification helps to compare the data of different time periods.

  • Question 21
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    Mid-point is used to calculate the following except

    Solution

    Median is a positional average unlike mean, dispersion etc which are magnitudinal averages.

  • Question 22
    1 / -0

    Class limits means

    Solution

    Class limits have the same accuracy as the data values; the same number of decimal places as the data values. The lower class limit of a class is the smallest data value that can go into the class. The upper class limit of a class is the largest data value that can go into the class.

  • Question 23
    1 / -0

    The number of times an item occur in the series is known as

    Solution

    Frequency is the number of occurrences of a repeating event per unit time. It is also referred to as temporal frequency, which emphasizes the contrast to spatial frequency and angular frequency

  • Question 24
    1 / -0

    A characteristics or a phenomenon which is capable of being measured and changes its value overtime is called

    Solution

    Variables data is data that is acquired through measurements, such as length, time, diameter, strength, weight, temperature, density, thickness, pressure, and height. With variables data, you can decide the measurement’s degree of accuracy.

  • Question 25
    1 / -0

    Which number of tally bar will cross out all previous tallies

    Solution

    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.

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