Andrei Denice N. Baclay Mr.

German Manzanero
BSBA- I October 12, 2018

Assignment in Business Statistics. Research the following:

1. Division of Statistic

Descriptive statistics -Descriptive statistics are brief descriptive coefficients

that summarize a given data set, which can be either a representation of the
entire or a sample of a population.
Example. At least 5% of all fires reported las year in Lahore were deliberately
set.

Inferential statistics -Inferential statistics is one of the two main branches of

statistics. It is use a random sample of data taken from a population to describe
and make inferences about the population.
Example. As a result of recent poll, most Pakistans are in favor of independent
and powerful parliament.

2. Types of data
Numerical, Categorical, and Ordinal

Numerical data - These data have meaning as a measurement, such as a

person’s height, weight, IQ, or blood pressure; or they’re a count, such as the
number of stock shares a person owns, how many teeth a dog has, or how
many pages you can read of your favorite book before you fall asleep.

 Discrete data represent items that can be counted; they take on possible
values that can be listed out. The list of possible values may be fixed
(also called finite); or it may go from 0, 1, 2, on to infinity (making
it countably infinite).
 Continuous data represent measurements; their possible values cannot
be counted and can only be described using intervals on the real number
line.

Categorical data - Categorical data represent characteristics such as a

person’s gender, marital status, hometown, or the types of movies they like.
Categorical data can take on numerical values (such as “1” indicating male and
“2” indicating female), but those numbers don’t have mathematical meaning.

Ordinal data - mixes numerical and categorical data. The data fall into
categories, but the numbers placed on the categories have meaning.
 3. Types of Variables and Classification of Variables

Categorical variable: variables than can be put into categories. For example, the
category “Toothpaste Brands” might contain the variables Colgate and Aqua fresh.
Confounding variable: extra variables that have a hidden effect on your experimental
results.
Continuous variable: a variable with infinite number of values, like “time” or “weight”.
Control variable: a factor in an experiment which must be held constant. For
example, in an experiment to determine whether light makes plants grow faster, you
would have to control for soil quality and water.
Dependent variable: the outcome of an experiment. As you change the independent
variable, you watch what happens to the dependent variable.
Discrete variable: a variable that can only take on a certain number of values. For
example, “number of cars in a parking lot” is discrete because a car park can only
hold so many cars.
Independent variable: a variable that is not affected by anything that you, the
researcher, does. Usually plotted on the x-axis.
Nominal variable: another name for categorical variable.
Ordinal variable: similar to a categorical variable, but there is a clear order. For
example, income levels of low, middle, and high could be considered ordinal.
Qualitative variable: a broad category for any variable that can’t be counted (i.e. has
no numerical value). Nominal and ordinal variables fall under this umbrella term.
Quantitative variable: A broad category that includes any variable that can be
counted, or has a numerical value associated with it. Examples of variables that fall
into this category include discrete variables and ratio variables.
Random variables are associated with random processes and give numbers to
outcomes of random events.
A ranked variable is an ordinal variable; a variable where every data point can be put
in order (1st, 2nd, 3rd, etc.).
Ratio variables: similar to interval variables, but has a meaningful zero.