Industrial Statistics I (Descriptive)

In general, there are two main types of statistics, which are:

• Parametric and Non Parametric

• Descriptive and Comparative

• Inferential and Correlative

• Inferential and Descriptive

The following steps are included in Descriptive Statistics, except:

• Collecting the data

• Presenting the data

• Taking a sample from a population

• Classifying the data

Based on the characteristics, data can be classified into:

• Primary and Secondary

• Discrete and Continuous

• Quantitative and Qualitative

• Nominal and Ordinal

Scales of measurement where a set of data or categories are organized in an ordered sequence is called:

• Nominal Scale

• Ordinal Scale

• Interval Scale

• Ratio Scale

Weight, age, and time are the examples of....

• Nominal Scale

• Ordinal Scale

• Interval Scale

• Ratio Scale

Stem and leaf display is a list or a table containing the values of a variable and the corresponding frequencies with which each value occurs.

• True

• False

The properties of numerical data consists of:

• Mean, Median, Mode

• Range, Interquartile Range, Quartile

• Standard Deviation, Variance

• Central Tendency, Variation, Shape

Left-Skewed Distribution is also called as a positive skew distribution because most of data falls to the positive side of the graph's peak.

• True

• False

A financial analyst has collected the following final product price for the company: 17, 16, 21, 18, 13, 16, 12, 11, 12, 20. What are the central tendency terms for the product prices?

(a)  

• Mean: 15,7

  Median: 17

  Mode: 12

• Mean: 15,6

  Median: 16

  Mode: 12, 16

• Mean: 16

  Median: 16

  Mode: 16

• Mean: 15,5

  Median: 16

  Mode: 16

Interquartile range is an approach to measure the dispersion which is heavily affected by extreme values.

• True

• False