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5 views1 page

Business 1

Uploaded by

TANSHEET FATIMA
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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 Data Mining: This involves examining large datasets to discover patterns, trends, or useful

information. It’s like digging through a huge pile of data to find valuable insights.

 Simulation: This involves creating a model to mimic real-world processes or systems to see
how they might behave under different conditions. It’s like running experiments in a virtual
world to predict outcomes.

A data query is a request for information from a database. It’s like asking a specific question to a
database to get certain data you need.

Data is information that can be used for analysis. Here are its main types:

1. Quantitative Data: Numbers and measurements.


o Discrete: Countable numbers (e.g., number of students).
o Continuous: Measurable values (e.g., height, weight).
2. Qualitative Data: Descriptions and categories.
o Categorical: Groups or types (e.g., colors, types of animals).
o Ordinal: Ordered categories (e.g., ratings from poor to excellent).
3. Textual Data: Words and text (e.g., reviews, articles).
4. Time-Series Data: Data collected over time (e.g., monthly sales).
5. Spatial Data: Information about locations (e.g., maps, coordinates).
6. Binary Data: Simple 0s and 1s (e.g., digital information).

A box plot is a chart that shows how data is spread out:

 Box: Displays the middle 50% of the data.


 Line in Box: Marks the median (middle value).
 Whiskers: Extend from the box to show the range of most data.
 Outliers: Dots outside the whiskers indicate unusual values.
 Mean: The average of all data points. Add them up and divide by the number of points.
 Variance: Measures how much the data points differ from the mean. It's the average of
the squared differences from the mean.
 Standard Deviation: Shows how spread out the data points are around the mean. It’s the
square root of the variance, making it easier to understand in the same units as the data.

  Covariance: Measures how two variables change together. If they tend to increase or
decrease together, covariance is positive; if one increases while the other decreases, it's
negative.
  Correlation: Measures the strength and direction of the relationship between two
variables. It’s a normalized version of covariance, ranging from -1 to 1. A correlation of 1
means a perfect positive relationship, -1 means a perfect negative relationship, and 0
means no relationship.

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