Statistics (I.Com Part 2) Introduction, Collection, Organization Prof. Shafique-ur-Rehman OBJECTIVES Govt. Degree College (Q.D.

S) Write answers to all the questions on the objectives answer sheet provided. Four possible answers A, B, C and D to each question are given which answer you consider correct, fill the circle in front of A, B, C or D with Marker or Pen Ink to each question on the answer sheet provided; (Each MCQ 1 Mark) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. Statistics comes from the Latin word; a) Status b) Statista c) Statistik Statistics has origin in; a) Latin word Status b) Italian word Statista c) German word Statistik Who was first to use the word Statistics; a) Gotifried Achenwall b) Webster c) Croxton Types of Statistics; a) Descriptive b) Inferential c) Applied Who is known as father of Statistics? a) Gotifried Achenwall b) Webster c) Croxton Statistics is defined as the numerical data in; a) Plural Sense b) Singular Sense c) a & b Statistics are always; a) Estimated Values b) Exact Values c) Constant Values Counting/calculation of data about all cases in a particular study is called; a) Sample b) Population c) Census Students divided into different groups according to their intelligence will generate; a) Numerical Data b) Qualitative Data c) Quantitative Data In plural sense, statistics means; a) Aggregate of facts b) Methodology c) Meteorology In singular sense, statistics means; a) Aggregate of facts b) Methodology c) Meteorology Statistics deals with methods of collection, presentation and analysis of data is; a) Descriptive b) Inferential c) a & b A descriptive measure computed from population data is; a) Parameter b) Statistic c) Constant A descriptive measure computed from sample data is; a) Parameter b) Statistic c) Constant Questionnaire method is used in collection of; a) Primary Data b) Secondary Data c) Internet Data Data classified by attributes is called; a) Qualitative b) Quantitative c) Numerical All elements in a particular case represent; a) Universe b) Sample c) Population In statistics, collection of related observations is called; a) Data b) Information c) Attribute A qualitative variable is also called; a) Statistics b) Parameter c) Constant A descriptive measure of sample is called; a) Statistics b) Statistic c) Parameter Number of patients admitted in a hospital; a) Continuous Variable b) Qualitative Variable c) Discrete Variable Colour of flowers, beauty, educational level, eye colour, intelligence are example of; a) Qualitative Data b) Numerical Data c) Quantitative Data A characteristic that can assume only one value, it is called; a) Parameter b) Continuous c) Discrete Height of students in a class make; a) Quantitative Data b) Qualitative Data c) Discrete Statistics is the backbone of; a) Mathematics b) Science c) Accounting Level of satisfaction is; a) Qualitative Variable b) Quantitative Variable c) Discrete Variable Census returns are; a) Primary Data b) Secondary Data c) Internet Data Primary data, un-grouped data and un-published data are; a) Synonymous Terms b) Antonymous Terms c) Opposite Terms Secondary data, grouped data and published data are; a) Primary Data b) Secondary Data c) Internet Data Statistics test the laws of--------------a) Literary Nature b) Social Science c) Pure Science The number of trees in a garden represent; a) Continuous Data b) Discrete Data c) Qualitative Data Data gathered through the publication of the State Bank of Pakistan represent; a) Primary Data b) Secondary Data c) First Hand Data Number of months in a year is an example of; a) Constant b) Variable c) Parameter d) None of these d) None of these d) Horace Secrist d) All of these d) Horace Secrist d) None of these d) None of these d) Universe d) None of these d) None of these d) None of these d) None of these d) None of above d) None of these d) None of these d) None of these d) a & c d) None of these d) Attribute d) None of these d) None of these d) Continuous Data d) Constant d) None of these d) Research d) None of these d) None of these d) None of these d) None of these d) b & c d) Quantitative Data d) Basic Data d) Statistic

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Prof. Shafique-ur-Rehman Email Address/Facebook Id: Prof.shafiq39@gmail.com

(Author & Writer of Principles of Accounting)

M/S Accounting (PU) 0303-7011011

34. Collection of data by village patwari is an example of; a) Primary Data b) Grouped Data c) Secondary Data 35. Un-arranged & Un-refined data represent; a) Primary Data b) Grouped Data c) Secondary Data 36. Which of the following is an example of a discrete variable? a) Height b) Income c) Weight 37. Data collected from house to house represent; a) Primary Data b) Secondary Data c) Grouped Data 38. First-hand collected data is called; a) Secondary Data b) Primary Data c) Grouped Data 39. Another name of population; a) Universe b) Parameter c) Census 40. A characteristic that does not change is called; a) Variable b) Constant c) Attribute 41. A characteristic that changes from one individual to another is; a) Variable b) Statistic c) Constant 42. A qualitative variable is called; a) Parameter b) Statistic c) Attribute 43. Results obtained by counting are: a) Discrete b) Continuous c) a & b 44. Marital status of an individual is the example of; a) Discrete Variable b) Continuous Variable c) Attribute 45. Statistics are the eyes of; a) Economy b) Administration c) Industry 46. Statistics is the backbone of; a) Economy b) Administration c) Industry 47. Number of days in a week is an example of; a) Discrete Variable b) Continuous Variable c) Constant 48. A temperature recorded as 37 C in a weather bureau is; a) Discrete Variable b) Continuous Variable c) Constant 49. The life time of a T.V tube is: a) Discrete Variable b) Continuous Variable c) Constant 50. The word statistics is defined as; a) Singular Sense b) Plural Sense c) a & b 51. Statistics laws are true: a) Average b) Exactly c) Always 52. Statistics are expressed: a) Exactly b) Qualitatively c) Quantitatively 53. The age of a shopkeeper is an example: a) Discrete Variable b) Continuous Variable c) Constant 54. Now-a-days, the word Statistics can be expressed in how many ways; a) 2 b) 3 c) 4 55. Length of rope is; a) Discrete Variable b) Continuous Variable c) Qualitative Variable 56. Statistics are always: a) Aggregate of facts b) True c) False 57. Statistics laws are valid in the; a) Short Run b) Long Run c) Average Run 58. Parameters are related to; a) Sample b) Population c) Median 59. Data of population census reports are; a) Primary Data b) Secondary Data c) a & b 60. Raw material collected by first hand is: a) Primary Data b) Secondary Data c) Continuous data 61. Data which have undergone any statistical treatment at least once is: a) Primary Data b) Secondary Data c) Continuous Data 62. Data published by FBS in its publications are: a) Primary b) Secondary c) Discrete 63. Population census is conducted through: a) Sample Survey b) Complete Enumeration c) Registration 64. Data obtained through internet is: a) Primary Data b) Secondary Data c) a & b 65. The data which have not undergone any statistical treatment is: a) Primary Data b) Secondary Data c) Continuous Data 66. Issuing a national identity card is an example of; a) Census b) Registration c) Survey

d) None of these d) None of these d) Family Size d) Refined Data d) None of these d) Attribute d) None of these d) None of these d) None of these d) None of these d) None of these d) None of these d) None of these d) None of these d) None of these d) None of these d) None of these d) None of these d) None of these d) None of these d) 5 d) None of these d) None of these d) None of these d) Mean d) None of these d) None of these d) None of these d) None of these d) Investigation d) None of these d) None of these d) Investigation

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Prof. Shafique-ur-Rehman Email Address/Facebook Id: Prof.shafiq39@gmail.com

(Author & Writer of Principles of Accounting)

M/S Accounting (PU) 0303-7011011

67. Information recorded in its original form is referred to as; a) Discrete Data b) Continuous Data c) Raw Data d) None of these 68. The raw data are; a) Primary Data b) Secondary Data c) a & b d) None of these 69. Making an entrance slip in Civil Hospital is the method of collection of data: a) Entry b) Registration c) Continuous d) None of these 70. The data obtained from college recorded are; a) Raw b) Primary c) Secondary d) None of these 71. The grouped data are always called: a) Raw Data b) Primary Data c) Secondary Data d) None of these 72. Data classified by attribute is called; a) Quantitative Data b) Qualitative Data c) a & b d) None of these 73. Data collected through questionnaire are; a) Primary Data b) Secondary Data c) a & b d) None of these 74. There is no difference between secondary data and; a) Grouped Data b) Un-grouped Data c) Raw Data d) Initial Data 75. The sum of random error is equal to; a) 0 b) 1 c) 2 d) 3 76. The mean of random error is equal to; a) 0 b) 1 c) 2 d) 3 77. The process of arranging data into rows and columns is called; a) Array of data b) Classification of data c) Tabulation of data d) Editing of data 78. The cumulative frequency of the last class is equal to; a) x b) Median c) f d) fx 79. The average of lower and upper class limits are; a) Class Interval b) Class Width c) Class Mark d) Class Frequency 80. The number of items falling within a class interval is; a) Class Interval b) Class Width c) Class Mark d) Class Frequency 81. Classification of data according to locations or areas is; a) Qualitative b) Quantitative c) Geographical d) None of these 82. For constructing a frequency distribution, the first step is; a) To Array the data b) Make at-least 5 classes c) Decide No. Of Classes 83. Data classified by qualitative characteristics is called; a) Discrete b) Attribute c) Continuous d) None of these 84. The main heading that describe the contents of a table is; a) Head Note b) Foot Note c) Title d) Box-Head 85. The difference between upper and lower class boundaries is; a) Class Interval b) Class Width c) Class Mark d) a & b 86. The frequency of class divided by the sum of frequency is: a) Relative b) Cumulative c) Discrete d) Continuous 87. Discrete frequency is usually expressed in: a) Decimal Numbers b) Fractions c) Whole Numbers d) Prime Numbers 88. A relative frequency distribution presents frequencies is terms is: a) Fractions b) Whole Numbers c) Percentages d) a & c 89. In a frequency distribution, the mid-value of a class is 15 and the class width is 4. The lower limit of the class is: a) 10 b) 12 c) 13 d) 14 90. The mid-value of a class is 42. If the class size is 10 then the lower and upper limits of the class are: a) 37 47 b) 47 37 c) 37.5 47.5 d) 47.5 37.5 91. Data arranged in ascending or descending order are; a) Classification b) Tabulation c) Array d) None of these 92. In a table, foot value and source note are: a) Same b) Different c) Identical d) None of these 93. The headings for various columns are said to be; a) Body of the table b) Row Caption c) Foot Note d) Column Caption 94. Lower class boundary of 25 35 will be; a) 20 b) 25 c) 30 d) 35 95. The headings for various rows of a table are; a) Row Captions b) Column Captions c) Box Head d) None of these 96. The sum of relative frequency is; a) f/f b) 1/f c) 1 d) None of these 97. A table has at least; a) Two Parts b) Three Parts c) Four Parts d) Multiple Parts 98. Cumulative frequency is always; a) Increasing b) Decreasing c) Non-Increasing d) Uniform 99. Statistics should be; a) Collected in a systematic manner c) Numerated b) Comparable d) All of these
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Prof. Shafique-ur-Rehman Email Address/Facebook Id: Prof.shafiq39@gmail.com

(Author & Writer of Principles of Accounting)

M/S Accounting (PU) 0303-7011011

Statistics Presentation Prof. Shafique-ur-Rehman OBJECTIVES Govt. Degree College (Q.D.S) Write answers to all the questions on the objectives answer sheet provided. Four possible answers A, B, C and D to each question are given which answer you consider correct, fill the circle in front of A, B, C or D with Marker or Pen Ink to each question on the answer sheet provided; (Each MCQ 1 Mark) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 24. 25. 26. 27. 28. 29. 30. 31. The graph obtained by joining the mid points of the tops of adjacent rectangles in histogram is called: a) Frequency Polygon b) Frequency Curve c) Histogram d) The graph of cumulative frequency is; a) An ogive b) Histogram c) Polygon d) In Pie-Chart the arrangement of the angles of the different sectors is generally; a) Anti-Clockwise b) Clockwise c) a & b d) The graph of a time series are; a) Histogram b) Ogive c) Historigram d) In a Pie-Chart the total angles are; a) 60 b) 180 c) 360 d) In histogram which is to be taken along x-axis; a) Class Limit b) Class Frequency c) Class Boundaries d) In histogram which is to be taken along y-axis. a) Class Limit b) Class Frequency c) Class Boundaries d) Diagram represented in circles and sectors are called; a) Square Diagram b) Pie Chart c) Pictogram d) Pie-Chart consists of; a) Circle b) Rectangles c) Triangles d) Tabulation means, the process of arranging the data in to; a) Rows & Columns b) Columns c) Rows d) The process of systematic arrangement of data into rows and columns is called; a) Presentation b) Classification c) Tabulation d) In a table, foot note and source notes are; a) Different b) Same c) Identical d) Which of the following is written at the top of the table? a) Prefatory Note b) Title c) Foot Note d) The graph of the symmetrical distribution is: a) U-Shaped b) J-Shaped c) Bell-Shaped d) Lower class boundary of 30 35 will be: a) 32 b) 35 c) 30 d) The graph of mid points and frequency is called: a) Pie-Diagram b) Bar-Diagram c) Histogram d) Which of the following is written at the bottom of the table? a) Foot Note b) Source Note c) Prefatory Note d) The smallest and the largest values of any given class of a frequency distribution are called; a) Class Interval b) Class Limit c) Class Mark d) The foot notes are normally represented by: a) -------------b) . c) ??????? d) In a statistical table, column captions are called: a) Stubs b) Box Heads c) Prefatory Spaces d) The number of tally count for each value is called its: a) Class Mark b) Class Interval c) Frequency d) The part of the table containing column captions is called: a) Stub b) Box-head c) Body d) The part of table containing row captions is called; a) Stub b) Box-head c) Body d) The headings for different rows are called; a) Row Captions b) Column Captions c) Box-head d) The headings of different columns are called; a) Column Captions b) Row Captions c) Box-head d) Frequency polygon is a; a) Circular Graph b) Square Graph c) Bar Graph d) A bimodal frequency curve consists of;: a) Two Maxima b) One Maxima c) Three Maxima d) The total area of the histogram represents the total: a) Frequency b) Class Mark c) Classes d) In frequency curve if the longer tail occurs to the left cure is called: a) Positively Skewed b) Negatively Skewed c) Symmetrical d) In frequency curve if the longer tail occurs to he right, the curve is called;: a) Positively Skewed b) Negatively Skewed c) Symmetrical d) None of these None of these None of these None of above None of these Class Mark Class Mark None of these None of these Different Classes Distribution None of these Source Note None of these None of these None of these a&b None of these

Body Range Prefatory Prefatory a&c a&c Line Graph None of these Class Limits Identical Identical

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Prof. Shafique-ur-Rehman Email Address/Facebook Id: Prof.shafiq39@gmail.com

(Author & Writer of Principles of Accounting)

M/S Accounting (PU)

32. Graph of time series; a) Historigram b) Histogram c) Frequency Polygon 33. The presentation of available data in ascending or descending order of magnitude called; a) Classification b) Tabulation c) Array 34. A graph which is used to show the maximum and minimum values of a variable is called; a) Line Graph b) Bar Graph c) Range Graph 35. A graph containing set of rectangles; a) Historigram b) Histogram c) Frequency Polygon 36. The term bar means a; a) Thick wide line b) Thin wide line c) Thick narrow line 37. Only one variable can be represented on; a) Simple bar diagram b) Multiple bar diagram c) Grouped bar diagram 38. A device of representing statistical data in pictures; a) Pictograph b) Pictogram c) Cartogram 39. A sector diagram is also called: a) Angular Diagram b) Histogram c) Pie Diagram 40. Median is graphically obtained by using: a) Histogram b) Ogive c) Frequency Curve

d) Ogive d) Random d) None of these d) None of these d) None of these d) None of these d) a & b d) a & c d) None of these

---------------------------------------------Best of Luck---------------------------------------------Statistics Measure of Central Tendency Prof. Shafique-ur-Rehman OBJECTIVES Govt. Degree College (Q.D.S) Write answers to all the questions on the objectives answer sheet provided. Four possible answers A, B, C and D to each question are given which answer you consider correct, fill the circle in front of A, B, C or D with Marker or Pen Ink to each question on the answer sheet provided; (Each MCQ 1 Mark) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. The sum of deviations of a set of n values from mean is; a) Zero b) Positive c) Negative The measure of central tendency listed below are; a) Mean b) Range c) Standard Deviation Sample mean is; a) Variable b) Statistic c) Parameter The mean of a constant a is; a) a/2 b) a2 c) O Coded method of calculation is only used is; a) A.M b) Median c) Combined Mean The sum of deviation of observations is zero, when observations are taken from; a) Mean b) Median c) Mode We must arrange the data before calculating; a) Median b) Mode c) Mean Suitable average for averaging the shoe sizes for children is; a) Median b) Mode c) Mean A single value that represent the whole data is: a) Array b) Average c) Symmetry Averages are also called measures of; a) Variation b) Location c) Skewness An ideal average should be based on; a) Extreme Value b) Same Value c) All Values If sum of deviations from 15 for 10 values is 25. The Arithmetic Mean is; a) 17.5 b) 15 c) 12.5 The arithmetic mean of the values 6,3,9,2,5 is; a) 5 b) 6 c) 9 The sum of deviations of values from their mean is; a) 0 b) 1 c) 2 The sum of deviations is zero about. a) Mean b) Median c) Weighted Mean For a certain distribution if (x 12) = 0. The value of mean is; a) 0 b) 12 c) 9 If average of 20 values is 43. The sum of the values is; a) 630 b) 680 c) 860 The middle value of an arranged data is; a) Mean b) Median c) Mode The most suitable average for the qualitative data is; a) Arithmetic Mean b) Median c) Mode Mode of the series 2,3,3,3,4,5,5,6,7; a) 2 b) 3 c) 5 d) Least d) Variance d) Constant d) None of these d) None of these d) None of these d) G.M d) G.M d) None of these d) None of these d) None of these d) None of above d) None of these d) 3 d) Mode d) None of these d) None of these d) Weighted Mean d) Weighted Mean d) 6

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Prof. Shafique-ur-Rehman Email Address/Facebook Id: Prof.shafiq39@gmail.com

(Author & Writer of Principles of Accounting)

M/S Accounting (PU)

21. In a moderately skewed distribution, mean = 30.42, median = 25.74. The value of mode is; a) 15.6 b) 16.38 c) 19 22. Arithmetic Mean of two numbers 12 and 14: a) 12 b) 13 c) 14 23. If = 10 and y = 3x 10 then arithmetic mean of y is; a) 20 b) 24 c) 25 24. If arithmetic mean of 5 numbers 26, 19, h, 30, 22 is 23. The value of h is: a) 18 b) 19 c) 20 25. The most frequent value in data is called; a) Mean b) Median c) Mode 26. If Mean = Median = Mode, then the distribution is;; a) Positively Skewed b) Negatively Skewed c) Symmetrical 27. If Mean > Median > Mode, then the distribution is: a) Positively Skewed b) Negatively Skewed c) Symmetrical 28. If Mean < Median < Mode, then the distribution is: a) Positively Skewed b) Negatively Skewed c) Symmetrical 21. Coding and Scaling of values is only used in: a) Arithmetic Mean b) Median c) Mode 22. A distribution bases on one mode is: a) Uni-modal b) Bi-modal c) Tri-modal 23. A distribution bases on two mode is; a) Uni-modal b) Bi-modal c) Tri-modal 24. A distribution bases on three mode is; a) Uni-modal b) Bi-modal c) Tri-modal 25. Which average does not affect by extreme values; a) Arithmetic Mean b) Median c) Mode 26. The median of the letters N, F, E, K, Q, E, C, Y, X is; a) Q b) K c) E 27. The mode letters of the word STATISTICS: a) S b) T c) I 28. In symmetrical distribution, the value of mean, median and mode: a) Zero b) Coincide c) Do not coincide 29. When the values are not of equal importance then we compute: a) Simple Mean b) Weighted Mean c) Combine Mean 30. Frequency is denoted by: a) x b) f c) r 31. In a symmetrical distribution mean, median and mode are always; a) Equal b) Un-equal c) Negative

d) None of these d) None of these d) 29 d) 21 d) a & b d) None of these d) None of these d) None of these d) None of these d) Multi-modal d) Multi-modal d) Multi-modal d) b & c d) F d) a & b d) None of these d) None of these d) None of these d) Positive

---------------------------------------------Best of Luck----------------------------------------------

Business Statistics

(Introduction)

Paper 1

What is Statistics: A science of collection, presentation, analysis and interpretation of numerical data is called statistics. Name types of Statistics: Descriptive Statistics, Inferential Statistics, Applied Statistics What is descriptive Statistics: A type of statistics which deals with collection, presentation and analysis of data is called descriptive statistics. What is inferential statistics: A type of statistics which deals with the methods of deriving conclusions about the population parameter on the basis of sample data is called inferential statistics. Write any three characteristics of statistics: Statistics are aggregate of facts, Statistics are collected in a systematic manner, and Statistics are collected for pre-determined purposes. Write any three functions of statistics: It helps in systematic collection of data, It helps management in decision making, It helps in estimating complicated problems. What is the importance of statistics in business: Statistics helps in evaluation of business performance, Statistics help in business decision making, and Statistics helps to forecast new business opportunities. Write any three limitations of statistics: It deals with only aggregate of facts, Statistical concepts are similar for social & physical sciences, and it is estimated science. What is data: A collection of any number of related observations is called data. What are primary data: The data collected for the first time for particular purpose for personal use are called primary data. Name any three sources of primary data collection: Companies Reports, Thesis, and Research Participants; Name any 3 methods of primary data collection: Personal Observations, Questionnaire, and Telephone.
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Prof. Shafique-ur-Rehman Email Address/Facebook Id: Prof.shafiq39@gmail.com

(Author & Writer of Principles of Accounting)

M/S Accounting (PU)

What are secondary data: The data which were not collected for the first time for particular purpose are called secondary data. Differentiate between primary & secondary data: Data collected for personal use from primary data resources is called primary data while data collected from secondary data resources is called secondary data. Name any 3 sources of secondary data: Newspapers, Books and Internet. Name any 3 methods of secondary data collection: Collection of data through newspaper, Collection of data through books, Collection of data through internet search. What is variable or variate: A characteristic which adopts different values under particular discussion is called variable. For example age, height and colour etc. What is discrete variable: A variable that takes countable number of values is called discrete variable. For example Number of trees, Number of Students etc. What is continuous variable: A variable that takes measurable number of values is called continuous variable. For example height of students, weight of students etc. What is qualitative variable: A characteristic that cannot be expressed numerically but only can be observed is called qualitative variable. For example Name of places, Name of things, quality of anything etc. What is quantitative variable: A variable that can be expressed numerically is called quantitative variable. For example No. of books in a library, No. of students in a college etc; Qualitative vs Quantitative Variable: Quantitative variable can be expressed numerically while quantitative variable cannot be expressed numerically. What is Constant: A characteristic that does not change under particular discussion is called constant. What is Population: The totality of the observation in particular situation is called population. What is Sample: A part of the population is called sample. Sample represents the population under any statistical discussion. Define Statistic: A numerical quantity calculated from sample is called statistic. Define Parameter: A numerical quantity calculated from population is called parameter. -----------------------------------------------------------------------------------------

Business Statistics

(Presentation of Data)

Paper 1

What are ungrouped data: Unarranged and unclassified data are called ungrouped data. What are grouped data: Data arranged into their frequencies are called grouped data. Write different methods of presentation of data: Classification, Tabulation, Diagrams, and Graphs What is classification: A process of arranging data into sequences and groups according to their characteristics is called classification. What is tabulation: A logical and systematic arrangement of statistical data into rows and columns is called tabulation. Classification vs Tabulation: Classification is a part of data analysis while tabulation is a part of data presentation. Classification is basis for tabulation because first the data is classified and then tabulated. Define Array: The number of times an observation occurs in the given data is called frequency of such observation. What is frequency: The number of times an observation occurs in the given data is called frequency of such observation. What is Class: A set of objects, having common characteristics is called class. What is class frequency: The number of values which represent specific class is called class frequency. What is cumulative frequency: The cumulative frequency of a particular class is a sum of frequency of that class and all previous classes up to that class. What is relative frequency: Class frequency expressed as a ratio of the total frequency is called relative frequency. What is frequency distribution: An arrangement of given data in the form of a table showing frequency with which each variable occurs is called frequency distribution. What are class limits: The end values of a class are called class limits. In other words the lower and upper values of a class are called class limits. What are class boundaries: The exact values which separate one class of data from other class are called class boundaries. What is class interval: The difference between the upper and lower class boundaries is called class interval. Upper class boundary: Figure which represents higher limit in particular class is called upper class boundary. Lower class boundary: The figure which represents lower limit in particular class is called lower class boundary. What is open end class: A class without upper class limit or lower class limit is called open ends class. Name any three types of charts: Simple Bar Diagram, Multiple Bar Diagram, and Pie Chart. Name any 3 graph of frequency distribution: Histogram, Polygon, and Ogive. Define graph: Pictorial representation of the relative changes between two quantities of which one varies as a result of the change in the other is called graph. Graph includes both charts and diagrams. Name major types of graphs: What is histogram: A set of adjacent rectangles for a frequency distribution such that the area of each rectangle represents the corresponding class frequency is called histogram. Define Historigram: A curve which shows the changes in the values of one or more variables from one period of time to the next is called Historigram. What is pictogram: A graph which expresses the statistical data in the form of symbols is called pictograph. Name any 3 graph of frequency distribution: Histogram, Frequency Curve, and Frequency Polygon. Define frequency curve: A curve which is derived from smoothed frequency polygon is called frequency curve. What is an ogive: The cumulative frequency polygon is called is ogive. What is frequency polygon: A many sided closed figure that represents frequency distribution is called frequency polygon.

What is bivariate frequency distribution: A frequency distribution which discusses two variables at a time is called bivariate frequency distribution. -----------------------------------------------------------------------------------------

Business Statistics

(Measure of Central Tendency)

Paper 1

What is average: A single value which represents the whole data is called average. Average is also called measure of central tendency or measure of location. Any 3 characteristics of good average: It can be easily calculated, It should be understandable, It should be based on the normal values. Important types of average: Arithmetic Mean, Geometric Mean, Harmonic Mean, Median and Mode. Why the average is called measure of central tendency: Average is called measure of central tendency because average tends to lie in the center of the observation. Arithmetic Mean: A figure which is calculated by dividing the sum of all the values in a given data by their numbers is called arithmetic mean. Merits of Arithmetic Mean (2): It can be easily calculated, It can be easily understood. Demerits of Arithmetic Mean (2): Effected by extreme values, further algebraic treatment is not possible. Where Arithmetic Mean is normally used: Arithmetic mean is normally used to study social, economic & commercial problems like production, price etc. Define Median: The middle most value of the arranged data is called median. Merits of Median (2): Not effected by extreme values, It can be easily calculated. Demerits of Median (2): It is not rigidly defined; It is not based on all the observations. In which field median is normally used: The fields where direct measurement of the variables like poverty, beauty & intelligence etc is not possible. Define Mode: The most common value of the data is called mode. Merits of Mode (2): Not affected by extreme values, It can be easily calculated. Demerits of Mode (3): Mode is not based on all observations, Mode is not clearly defined, and Mode is not suitable for further algebraic treatment. ---------------------------------------Best of Luck----------------------------------------