31 Jul Statistical Frequency Distribution Presents Systematically All Possible Values Of A …
Statistical frequency distribution presents systematically all possible values of a random variable, along with the frequency means how many times that variable is repeated (or the ‘count’ of each value).
Recall that we have discussed in past weeks that data variables can be either quantitative or qualitative. So, such frequency distribution can be used for both qualitative and quantitative variables.
For example:
1)
Qualitative data variable :
Causes of Inventory shrinkage: Employee theft…. Shoplifting …. Administrative error…. Vendor Fraud
(Frequency) Millions of Dollars ……..:15.6……………………14.7……………. 7.8 ………………………..2.9
2) Quantitative Data variable
Inventory amount(millions $) approx : Under 3 ………………between 3-8 ……………. between 8-15………………………..above 15
Number of firms (frequency): ………………………5…………………………..14…………………………..6……………………………….5
You may illustrate some other examples of frequency distributions with qualitative data, quantitative data variables and may calculate percent and relative frequencies.
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