Types of Data
1. Univariate Data:
- Definition: Data consisting of a single variable.
- Example: Heights of students in a class.
-Analysis: Focuses on descriptive statistics like mean, median, mode, range, and standard
deviation.
2. Multivariate Data:
- Definition: Data involving multiple variables.
- Example: Heights, weights, and ages of students in a class.
- Analysis: Involves examining relationships between variables using techniques like
correlation, regression analysis, and multivariate analysis.
Series and Cross-Sectional Data
1. Time Series Data:
- Definition: Data collected over different points in time.
- Example: Monthly sales revenue of a company for the past year.
- **Analysis:Focuses on trends, seasonal patterns, and cyclic patterns using methods like
moving averages and time series decomposition.
2. Cross-Sectional Data:
- Definition:Data collected at a single point in time.
- Example: Survey results from a population taken at a particular time.
- Analysis: Involves comparing different groups or variables at a specific time using
methods like mean comparison and cross-tabulation.