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BUS215 - Business Statistics
Business Statistics
4
Business
Not Applicable
01/07/2023

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Term
Steps to finding Frequency Distributions?
Definition
1) Decide the number of classes
2) Determine the class interval
3) Set the individual class limits
4) Tally the individual data into the classes and determine the number of observations in each class
Term
Frequency Distributions: Step 1: Decide on the number of Classes What is the Formula?
Definition
2^k > n two to the power of k (number of classes) is greater than the number of observations represented by n
Term
Frequency Distributions:
Step 2: Determine the class interval
What is the Formula?
Definition
i > or = Max val - Min Val / k
i (class interval) is greater than or equal to the max value minus the min value divided by k (number of classes)
Term
Frequency Distributions:
Step 3: Decide on the Class Limits
What is the Formula?
Definition
Definite boundaries on classes
EX: 50 up to 60
Lower limit (should be) a multiple of the class interval but isn't always
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