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02 - Classification and Types of Data

ECONOMICS BBA LLB SEM 4 PPT CHAPTER 2
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0% found this document useful (0 votes)
22 views41 pages

02 - Classification and Types of Data

ECONOMICS BBA LLB SEM 4 PPT CHAPTER 2
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 41

Cl a s s i f i c a t i o n

a n d Ty p e s o f
Da t a
Module 2

RIDDHI PASARI 1
CONCEPTS

01 02 03
Elements Variable Data
Entitieson which data A variable is some It is the observed
is collected. characteristic of a valueof variable.
elements (population
or sample).

RIDDHI PASARI 2
VARIABLES

Company Stock Exchange Annual Sales ($M) Earnings per share ($)

Dataram NQ 73.10 0.86

Energy South N 74.00 1.67

ELEMENTS Keystone N 365.70 0.86

Land Care NQ 111.40 0.33

Psyche medics N 17.60 0.13

DATA

RIDDHI PASARI 3
TYPES OF
DATA
DISCLAIMER
If you know what types of data you have, then you know
which math and statsoperations you're allowed to use on
your data.

RIDDHI PASARI 4
All d a t a t h a t we c o l l e c t
ar e e i t her me a s u r e d o r
ar e a n obs e r ve d f e a t ur e
of i nt e r e s t .

RIDDHI PASARI 5
At the highest level of
classification
Qualitative Quantitative
Data Data
• Qualitative data give us • Quantitative data is
information about the information about quantities
qualities of things. of things.
• They are observed, not • It can be measured .
measured . • Described in terms of
• They are labelled with names numbers .
/ placed in categories . • Quantitative data are also
• Qualitative data are also called Numerical data.
known as Categorical data.
RIDDHI PASARI 6
DISCLAIMER!!
Qualitative Data

The one exception is when


categories have been numbered for
practical purposes, such as Typesof
Animals [1, 2, 3] instead of [Pig,
Sheep, Cow]. In this case, the
numbers must be treated as the
names of the categories - you're
not allowed to do any
calculations with them!

RIDDHI PASARI 7
RIDDHI PASARI 8
Quantitative Data
● Discrete Data
It is the information that can only take certain values and
can't be made more precise. Theyare called discrete data
because they have fixed points and measures in-
between do not exist . Counted data are also discrete
data.

● Continuous Data
It is the data that can take any value, usuallywithin certain
limits, and could be divided into finer and finer parts
(smallerfractions).
RIDDHI PASARI 9
Types of
Data
On the basis of Scale & Measurement

RIDDHI PASARI 10
Qualitative/ Quantitative/
Categorical Data Numerical Data
01 03
NOMINAL DATA INTERVAL DATA
Categories without any It is measured numerical data where
specific order or ranking . intervals or differences between values
of interval data are consistent and
meaningful, but no meaningful zero .

02 04
ORDINAL DATA RATIO DATA
Categories with a It is measured numerical data
meaningful order or that has equal distances
ranking but with undefined between adjacent values and
RIDDHI PASARI 11
intervals between them. a meaningful zero .
01
Nominal Data
Characteristics, Examples, Calculations, Statistics

RIDDHI PASARI 12
Nominal Data
Characteristics

1. Cannotbe measured.
2. Cannotbe ordered.
3. Can only be categorized.

RIDDHI PASARI 13
RIDDHI PASARI 14
RIDDHI PASARI 15
02
Ordinal Data
Characteristics, Examples, Calculations, Statistics

RIDDHI PASARI 16
Ordinal Data
Characteristics

1. Cannotbe measured.
2. Can be categorized.
3. Can be ordered as well.

RIDDHI PASARI 17
RIDDHI PASARI 18
RIDDHI PASARI 19
RIDDHI PASARI 20
03
Interval Data
Characteristics, Examples, Calculations, Statistics

RIDDHI PASARI 21
Interval Data
Characteristics

1. Can be measured.
2. Can be ordered.
3. Degree of difference
betweenitemsis meaningful.

RIDDHI PASARI 22
RIDDHI PASARI 23
RIDDHI PASARI 24
04
Ratio Data
Characteristics, Examples, Calculations, Statistics

RIDDHI PASARI 25
Ratio Data
Characteristics
1. Can be measured and
ordered.
2. Degree of difference
betweenitemsis meaningful.
3. There is non- arbitrary zero
points i.e. it cannot have
negativevalues.
RIDDHI PASARI 26
RIDDHI PASARI 27
RIDDHI PASARI 28
CRUX!!

Interval Ordinal Nominal


Data Data Data
• Values are real • Values must represent • Values are the arbitrary
numbers. the ranked order of numbers that represent
• All calculations are the data. categories.
valid. • Calculations based on • Only calculations based on
• Data may be treated as an ordering process the frequencies or
ordinal or nominal. are valid. percentages of occurrence
• Data may be treated are valid.
as nominal but not as • Data maynot be treated as
interval. ordinal or interval.

29
RIDDHI PASARI
The placement office at a university regularly
surveys the graduates 1 year after graduation
and asks for the following information. For
each, determine the type of data (nominal,
ordinal or interval).
a. What is your occupation?
b. What is your income?
c. What degree did you obtain? For each of the following examples of data,
d. What is the amount of your student loan? determine the type.
e. How would you rate the quality of a. The weekly closing price of the stock of
instruction? [Link].
(excellent, very good, good, fair, poor) b. The month of highest vacancy rate at a La
Quinta motel.
c. The size of soft drink (small, medium, or large)
ordered by a sample of McDonald’s customers.
d. The number of Toyotas imported monthly by
the United States over the last 5 years.
e. The marks achieved by the students in a
statistics course final exam marked out of 100.
30
RIDDHI PASARI
A survey of taxpayers who complete their own tax
returns were asked the following questions.
Determine the type of data each question produces.
a. Did you use software?
b. How long did it take you to complete this year’s
return?
c. Rate the ease with which you completed this
year’s return (very easy, quite easy, neither easy
or difficult, quite difficult, very difficult)

Residents of condominiums were recently surveyed and


asked a series of questions. Identify the type of data for
each question.
a. What is your age?
b. On what floor is your condominium?
c. Do you own or rent?
d. How large is your condominium (in square feet)?
e. Does your condominium have a pool?

31
RIDDHI PASARI
Types of
Data
On the basis of Collection

RIDDHI PASARI 32
Features Primary Data Secondary Data

Data collected directly from Data obtained from existing


Definition
original sources. sources.
Original and firsthand Already collected and
Nature
information. processed by others.
Collection Specific to the researcher's Collected for a different
Purpose objectives. purpose by others.

Method of Surveys, interviews, Literature reviews,


Collection experiments, observations. databases, official records.

Researcher has control Limited control; relies on


Control
over the process. available data.

Generally less time-


Typically more time-
Cost and Time consuming and cost-
consuming and costly.
effective.

RIDDHI PASARI 33
Features Primary Data Secondary Data

May have varying degrees of


Usually more accurate and
Accuracy accuracy, depending on the
relevant to the study.
source.

Original and unique to the Not original; already available


Originality
study. for public use.

Researcher can tailor data Limited flexibility as data is


Flexibility
collection methods. pre-existing.

Surveys conducted by a Census data, government


Examples company for product reports, academic research
feedback. papers.

RIDDHI PASARI 34
Types of
Variables
RIDDHI PASARI 35
When Nominal data are When Interval data are
used in analysis, they used in analysis, they
are called Nominal are called Interval
Variables Variables
Nominal Interval
Variable Data
02 04
01 03
Ordinal Ratio
Variable Variables
When Ordinal data are When Ratio data are
used in analysis, they used in analysis, they
are called Ordinal are called Ratio
Variables Variables

RIDDHI PASARI 36
Methods of
Data
Collection
RIDDHI PASARI 37
38 RIDDHI PASARI
Collecting Nominal Data
01 02 03 04
Multiple
Choice Dichotomous Open ended
Checklists Questions
Questions Questions
Use multiple-choice Create lists of Ask questions that can Include open-ended
questions with non- categories, and only be answered with questions where
ordinal response individuals can check or two options (yes/no, respondents can
options. mark the applicable true/false) provide non-
categories. ordered categorical
responses.
Collecting Ordinal Data

01 02 03 04
Likert Likelihood
Ranking Grading
Scale Scaling
A Likert scale is a rating Under this its is asked to It estimatethe likelihood It includes
scale used to measure respondents to rank a or probability of an assigning grades
opinions, attitudes, or list of related items event occurring on a or performance
behaviors. based on a specific scale. levels.
criterion.

RIDDHI PASARI 39
RIDDHI PASARI 40
RIDDHI PASARI 41

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