Page 41 - DCOM203_DMGT204_QUANTITATIVE_TECHNIQUES_I

Quantitative Techniques – I

Notes A statistical series can be one of the following four types: (i) Spatial Series, (ii) Conditional
Series, (iii) Time Series and (iv) Qualitative or Quantitative Series
The series formed by the geographical or spatial classification is termed as spatial series.
Similarly, a series formed by the conditional classification is known as the conditional
series. The examples of such series are already given under their respective classification
category.
Time Series

A time series is the result of chronological classification of data. In this case, various
figures are arranged with reference to the time of their occurrence. For example, the data
on exports of India in various years is a time series.
Year : 1980 1981 1982 1983 1984 1985 1986 1987 1988
Exports (in cr.) : 6591 7242 8309 8810 9981 10427 11490 15741 20295
Qualitative or Quantitative Series

This type of series is obtained when the classification of data is done on the basis of
qualitative or quantitative characteristics. Accordingly, we can have two types of series,
namely, qualitative and quantitative series.
Qualitative Series:
In case of qualitative series, the number of items in each group are shown against that
group. These groups are either expressed in ascending order or in descending order of the
number of items in each group. The example of such a series is given below.
Distribution of Students of a College according to Sex

Sex Males Females Total
No. of Students 1700 500 2200

Quantitative Series
In case of quantitative series, the number of items possessing a particular value are shown
against that value.
A quantitative series can be of two types (1) Individual Series, and (2) Frequency distribution.
1. Individual series: In an individual series, the names of the individuals are written
against their corresponding values. For example, the list of employees of a firm and
their respective salary in a particular month.
2. Frequency Distribution: A table in which the frequencies and the associated values
of a variable are written side by side, is known as a frequency distribution. According
to Croxton and Cowden, “Frequency distribution is a statistical table which shows
the set of all distinct values of the variable arranged in order of magnitude, either
individually or in a group with their corresponding frequencies side by side.” A
frequency distribution can be discrete or continuous depending upon whether the
variable is discrete or continuous.

Questions :
1. What is meant by statistical series?
2. Differentiate between quantitative and qualitative series with an example of each.
3. Explore your knowledge for different types of statistical series.

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