RBSE Class 11 Economics Notes Chapter 3 Organisation of Data

These comprehensive RBSE Class 11 Economics Notes Chapter 3 Organisation of Data will give a brief overview of all the concepts.

RBSE Class 11 Economics Chapter 3 Notes Organisation of Data

Classification of Data:

• Classification of data is the process of organising the raw data into groups or classes to facilitate further ; statistical analysis.
• Unarranged or unclassified information is called raw data.

Objectives of Classification of Data

• Makes data comparable
• Provides scientific base to data
• Makes data attractive and effective

Benefits of Classification of Data

• Saves time and efforts
• Helps to locate data easily
• Facilitates comparison
• Helps to draw conclusions without difficulty

Methods of Classification of Data

• Chronological classification - data is classified in ascending or descending order with reference to time
• Geographical classification - data is classified according to geographical locations 
• Qualitative classification - data is classified on the basis of certain attributes
• Quantitative classification - data is classified on the basis of numerical value

Variables

• Variables are those facts which can be presented in numeric form and may assume more than one set of values.
• Raw data consist of observations on variables.
• Each unit of raw data is an observation.

Types ofVariables

• Discrete variables - take only certain values
• Continuous variables - take any value: integral or fraction

Frequency Distribution

• Classification of data related to discrete variables is called a frequency array.
• A frequency distribution classifies raw data of a quantitative variable.
• Frequency is the number of times a value occurs in the raw data.
• Frequency curve is a graphic representation of a frequency distribution.
• Tally mark is a line representation of a number. It keeps quick track of numbers in groups of five. Univariate frequency distribution is the frequency distribution of a single variable.
• Bivariate frequency distribution is the frequency distribution of two variables.
• Class limits are the two ends of a class - the lowest value is called the lower class limit and the highest value is called the upper class limit.
• Class interval is the difference between the upper class limit and the lower class limit. It is also known as class width.
• Class mid-point (class mark) is the middle value of a class.
  Class Mid-point = \(\frac{\text { Upper class limit }+\text { Lower class limit }}{2}\)

Range:

• Range is the difference between the largest and the smallest value of a variable.
• In exclusive method of classification of data, classes are formed in such a way that the lower limit of a class coincides with the upper class limit of the previous class.
• Inclusive method does not exclude the upper class limit in a class interval and hence, both class limits are parts of the class interval.