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MGT 202

Business Statistics

TU BBS · First Year · Four-year BBS curriculum

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100
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67 questions

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Unit 2: Classification and Presentation of Data

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  1. Asked on 2079 Exam[2 marks]2079 paper

    What is chronological classification? Give an example.

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    Definition: Chronological (or Temporal) Classification is the systematic arrangement and categorization of statistical data according to the time of occurrence, such as years, quarters, months, weeks, or days. It displays how a variable evolves or fluctuates across time periods.

    Example: Annual Foreign Direct Investment (FDI) inflows into Nepal:

    Year FDI Inflow (in Billion NPR)
    2020 18.5
    2021 19.8
    2022 17.2
    2023 21.4
  2. Asked on 2080 Exam[2 marks]2080 paper

    State any two principle objectives of classification.

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    The two principal objectives of statistical classification are:

    1. To Condense Mass Data into Manageable Form: Classification reduces vast, unorganized raw figures into systematic, homogenous groups, making them easy to comprehend, assimilate, and interpret.
    2. To Facilitate Comparison and Analysis: By grouping similar items together and highlighting points of resemblance and difference, classification enables meaningful comparative analysis between different groups or time periods.
  3. Asked on 2080 Exam[15 marks]2080 paper

    Construct a frequency table for the following data regarding annual profit, in lakhs of rupees in 50 firms taking 25 - 34, 35 - 44 etc. as class intervals.

    28 35 61 29 36 48 59 67 69 50
    48 40 49 42 41 37 51 62 63 33
    31 32 35 40 38 39 60 51 54 56
    69 46 42 38 61 59 58 44 39 57
    38 44 45 45 47 38 44 47 47 64

    i. Find the number of firms having profit between Rs. 37 lakhs and Rs. 58 lakhs.

    ii. Profit above which 10% of the firm will have their profits.

    iii. Middle 50% profit group.

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    Step 1: Identification of Extremes and Class Structure

    • Total observations (NN) = 5050
    • Minimum value = 2828
    • Maximum value = 6969
    • Given class intervals: 25−34,35−44,45−54,55−64,65−7425 - 34, \quad 35 - 44, \quad 45 - 54, \quad 55 - 64, \quad 65 - 74
    • This is an inclusive class interval system with class width h=10h = 10.

    Step 2: Tally Marks and Frequency Count

    1. Class 25 - 34:

      • Observations: 28,29,33,31,3228, 29, 33, 31, 32
      • Count = 5

    2. Class 35 - 44:

      • Observations: 35,36,40,42,41,37,35,40,38,39,42,38,44,39,38,44,38,4435, 36, 40, 42, 41, 37, 35, 40, 38, 39, 42, 38, 44, 39, 38, 44, 38, 44
      • Count = 18

    3. Class 45 - 54:

      • Observations: 48,50,48,49,51,51,54,46,45,45,47,47,4748, 50, 48, 49, 51, 51, 54, 46, 45, 45, 47, 47, 47
      • Count = 13

    4. Class 55 - 64:

      • Observations: 61,59,62,63,60,56,61,59,58,57,6461, 59, 62, 63, 60, 56, 61, 59, 58, 57, 64
      • Count = 11

    5. Class 65 - 74:

      • Observations: 67,69,6967, 69, 69
      • Count = 3

    Step 3: Complete Frequency Distribution Table

    Class Interval (Inclusive) Class Boundaries (Exclusive) Mid-point (mm) Tally Marks Frequency (ff) Relative Frequency Cumulative Frequency (c.f.c.f.)
    25 - 34 24.5 - 34.5 29.5 |||| 5 550=0.10\frac{5}{50} = 0.10 5
    35 - 44 34.5 - 44.5 39.5 |||| |||| |||| ||| 18 1850=0.36\frac{18}{50} = 0.36 23
    45 - 54 44.5 - 54.5 49.5 |||| |||| ||| 13 1350=0.26\frac{13}{50} = 0.26 36
    55 - 64 54.5 - 64.5 59.5 |||| |||| | 11 1150=0.22\frac{11}{50} = 0.22 47
    65 - 74 64.5 - 74.5 69.5 ||| 3 350=0.06\frac{3}{50} = 0.06 50
    Total N=50N = \mathbf{50} 1.00\mathbf{1.00}

    Interpretation:

    • The modal profit group is Rs. 35 to 44 lakhs, containing 36%36\% of the firms (1818 firms).
    • 72%72\% of the firms (3636 out of 5050) earn an annual profit of less than Rs. 54.5 lakhs.
  4. Asked on 2081 Exam[2 marks]2081 paper

    Define the qualitative classification of data with a suitable example.

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    Definition: Qualitative Classification is the process of sorting statistical data according to certain descriptive characteristics, attributes, or qualities that cannot be measured numerically, but can only be identified by their presence or absence.

    Types & Example:

    1. Simple Classification: Categorized on the basis of a single attribute:
      • Gender of Employees: Male vs. Female
      • Literacy: Literate vs. Illiterate
    2. Manifold Classification: Categorized simultaneously on multiple attributes:
      • Workforce by Literacy and Employment Status:
    Employment Status Literate Illiterate Total
    Employed 450 150 600
    Unemployed 80 120 200
    Total 530 270 800