Sunday, April 27, 2008

Definition of Terms

Data
It is a facts or figures from which conclusions may be drawn. The statistical facts, historical facts, principles, opinions and item of various sources like scores, age, I.Q., Income, etc.

Data Collection and Presentation The data collected must be valid, reliable, relevant, and consistent with other information to the problem at hand. Data collected may be classified as primary, secondary, internal or external.

Primary Data
Refer to the data obtained directly from an original source by means of actual observations or by conducting interview. The direct source could be an individual or family groups, business entities or private and government agencies.

Secondary Data
Refer to data or information that come from existing records (published and/or unpublished) in usable form such as surveys, census, business journals and magazines, newspapers, commercial publications and other such as theses and dissertation and research papers, etc.

Internal Data
Data taken from the company’s own records of operations such as sales records, production records, personal records, etc.

External Data
Data that come from outside sources and not from the company’s own record.

Variable
It is a characteristic or phenomena which may take on different values. Example: weight, I.Q., and sex, age, marital status, eye color, etc.

Quantitative variable
If the outcomes are expressed numerically. Example: height, weight, age and numerical values.

Qualitative variable
It the outcomes refer to non-numerical qualities or attributes. Ex. Sex, marital status, eye color.


1 comment:

anky said...

Your blog is very informative and I am here to discuss about probability in a concise form that is,It is the chance that something will happen in the future and is expressed as number between 0 to 1 and can be used as a fraction,Decimal,percent etc.
probability exactly one event occurs