Categorical data is data that is collected in groups or topics; the number of events in each group is counted numerically. For example, if I wanted to understand the different types of reading interests in my office, then I could collect categorical data to identify the genre of books that ...
In this blog, Learn what is data, different types of data, how to store and analyse data and more which will help you understand the meaning and significance of data.
What is an example of the claim, evidence, and reasoning model? What are some examples of objective data in nursing? What is descriptive statistics? What is a quantitative observation? What is an example of an independent variable in a hypothesis? What is an appropriate sample size for quantit...
Quantitative data can be used for statistical manipulation and is often displayed though various graphs and tables such as: Bar graphs. Histograms. Scatter plots. Pie charts. Line graphs. For example, phone prices, computer memory, and people’s height and weight are all examples of quantitative...
Cluster analysis can be a powerful data-mining tool to identify discrete groups of customers, sales transactions, or types of behaviours.
What statistic identifies the value that is greater than or equal to 50% of the other data points in a distribution? What technique in descriptive statistics is most helpful with nominal data? What is an example of a qualitative variable?
The probability of flipping a coin and getting tails is 50%. This is a statistic because it tells us the probability of an event happening, in this example the event of flipping a coin and getting tails. We aren’t endlessly flipping coins until infinity, or flipping all of the coins in...
What is logistic regression? Logistic regression is a type ofclassificationmodel that works similarly to linear regression. The difference between this and linear regression is the shape of the curve. While simple linear regression fits a straight line to data, logistic regression models fit ...
A simpler way to calculate an adjusted mean is to add categorical variables that separate the data more finely, such as gender. One way to adjust a mean is to add categorical variables that separate the data more finely. For example, imagine a study looking at alcohol consumption in the acc...
For example, say an analyst is evaluating the performance of a set of mutual funds over time, a mutual fund that is ranked five on a decile scale of one to 10 means it’s in the top 50%. By splitting the mutual funds into deciles, the analyst can review the best and worst-performin...