Statistical Techniques in Business & Economics Chapter 2 – Flashcards
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Frequency Table
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Grouping of qualitative data into mutually exclusive classes showing the number of observation in each class
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Relative Class Frequencies
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The fraction of the total number of observation in each class
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Bar Chart
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Shows qualitative classes on horizontal axis and class frequencies on vertical
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Pie Chart
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Shows the proportion that each class represents of the total number of frequencies
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Frequency Distribution
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Grouping of data into mutually exclusive classes showing the number of observations in each class
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Cumulative Frequency Distribution
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Determines how many or what proportion of the data values are below or above a certain value
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Histogram
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Frequency Distribution based on quantitative data. Classes are horizontal and class frequencies are on the vertical axis.
