- Data is the raw material while Information derived from this data is finished product
- Data represents numbers and facts in the format in which was collected from the source
- Data can be Qualitative or Quantitative:
- Qualitative like
- Food is tasty, Movie was worth the money, etc.
- It cannot be computed
- Quantitative like
- Numeric data
- Discreet - Whole number
- Continuous - Real or Float number
- Data can also be Categorical or Discreet:
- Information is derived out of this data to help decision making by the stakeholders
Frequency Distribution
- Frequency Distribution is a table in which raw data is arranged into classes and corresponding frequencies.
- Here raw data is classified into information
- Most widely used data reduction technique in descriptive statistics
- Frequency Distribution can be visually represented using Histogram
- Histogram is a visual representation of Frequency Distribution in which the X-axis is represents the classes while the Y-axis represents the frequencies
- Histogram can be also called as Frequency Histogram
- In practicality, Histogram can be used to
- Assess the material strength
- Estimate process capability
- Indicate the need for corrective measures
- Measure effects of corrective measure taken
- Estimate Machine Capability
- Compare operators, vendors, materials or product
- Grouping of data is called Binning and each group is called Bin
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