MTH302 Business Mathematics and Statistics

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 MTH302  Business Mathematics and Statistics  

https://drive.google.com/drive/folders/1tRU4iZfbi3vSO7cpHFr7_4qoS7obd0P4?usp=sharing

STATISTICAL DATA

Information is collected by government departments, market researchers, opinion pollsters and others.

Information then has to be organized and presented in a way that is easy to understand

BASIS FOR CLASSIFICATION

·         Qualitative: Attributes: sex, religion

·         Quantitative Characteristics: Heights, weights, incomes etc.

·         Geographical: Regions, Provinces, divisions etc.

·         Chronological or Temporal

·         By time of occurrence: Time series

TYPES OF CLASSIFICATION

There are different types of classifications.

·         One-way One characteristic: Population

·         Two-way Two characteristics at a time

·         Three-way Three characteristics at a time

METHODS OF PRESENTATION

Different methods of representation are:

·         Text  ”The majority of population of Punjab is located in rural areas.”

·         Semi tabular Data in rows

·         Tabular Tables with rows and columns

·         Graphic

·         Charts and graphs

TYPES OF GRAPHS

·         Picture graph

·         Column Graphs

·         Line Graphs

·         Circle Graphs (Sector Graphs)

·         Conversion Graphs

·         Travel Graphs

·         Histograms

·         Frequency Polygon

·         Cumulative Polygon or Ogive

PICTURE GRAPH or PICTOGRAPH

In picture graph or pictograph, each value is represented by a proportional number of pictures.. In the example below, one car represents 10 cars

SECTOR GRAPHS

Sector graphs use the division of a circle into different sectors. The full circle is 360 degrees. For each percentage, degrees are calculated and sectors plotted.

COLUMN AND BAR GRAPHS

The following slide gives the Proportion of households by size in the form of a

LINE GRAPHS

Line graphs are the most commonly used graphs. A line graph plots data as points and then joins them with a line.

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