Data and Statistics

1.1 Data – are the facts and figures collected e. Categorical – data group by specific
analyzed and summarized for categories, uses either nominal or ordinal
presentation and interpretation. Data scale of measurement
sets are data collected for study:
f. Quantitative – a variable with
Example: quantitative data. Are obtained using
either interval or ratio scale of
measurement

i. Cross-sectional and time series data -

a. Elements – are entities on which data are
collected, data on (b) each individual
product is an element, the element name
appear in the first column with 3
products names
b. Variable – characteristics of interest for
elements: the data set in(b)includes the
following 4 variables which are: device,
quantity, unit cost and asset value.
c. Observation – set of measurements
obtained for a particular element
d. Scale of measurement
 Nominal – consists of labels or
names used to identify an attribute of
an element
 Ordinal – exhibit the properties of
nominal data and order of rank.
 Ratio scale – if the data have all the
properties of interval data and the
ratios of two values is meaningful
data collected at the same or
approximately the same point in time ,
time series data are collected over
several time period.
1.2 Data Sources
 Existing Sources
Data available from internal company
records
 Statistical Studies
Data available from selected gov’t. agencies
1.3 Descriptive Statistics – basic statistical
information in newspapers, magazine, at
company reports, and other publications
consisting of data that are summarized
and presented in a form that is easy for
the reader to understand. Descriptive
statistics describe the data
A. Measures of central tendency

1. Mean – the sum of the values in a data

group divided by the number of values

3. Mode – is that single measure or score

which occurs most frequently. When data
crude grouped into a frequency distribution,
the crude mode is usually taken to be the
midpoint of that interval which contains the
largest frequency.

2. Median – the point on the scales of

scores below which ½ of the scores lie
above w/c the other half of the scores lie.