Intro to Business Statistics

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Quantitative data

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Intro to Business Statistics

Definition

Quantitative data is numerical information that can be measured and analyzed statistically. It often includes counts, measurements, and projections.

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5 Must Know Facts For Your Next Test

  1. Quantitative data can be discrete or continuous.
  2. Examples of quantitative data include height, weight, and number of units sold.
  3. Statistical measures such as mean, median, mode, and standard deviation are used to analyze quantitative data.
  4. Histograms and scatter plots are common graphical representations of quantitative data.
  5. Quantitative data is crucial for hypothesis testing and predictive analytics.

Review Questions

  • What are two main types of quantitative data?
  • Which statistical measures are commonly used to analyze quantitative data?
  • Name two graphical representations that are typically used for quantitative data.

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