1.

Elements, Variables, Observations

Elements: Elements are the entities on which data are collected.

Variables: A variable is a characteristic of interest for the elements.

Observations: The set of measurements obtained for a particular element is called an

observation.
Example: If we collect information of 20 people from a branch of Rupali Bank Limited,
then the element is the workers on the bank and variables are their name, age, marital
status and many more. Finally, by those information we get observation about those 20
people working on that bank.
 Scale of Measurements & Qualitative
Data

There are 4 scale of measurements:

1. Nominal: Data of nonnumerical
2. Ordinal: Meaningful and has order.
3. Interval: Numeric data
4. Ratio: Data of compare and ratio.

Qualitative data: Used to identify attributes

Quantitative data: Used to measure values.
 Cross-sectional data & Time series
data

Cross-sectional Data: Collected at the same time of many variables.

Time series Data: Collected over several time of a particular variables.