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On the basis of presence and absence of an attribute, data are classified into
  • a)
    one fold classification.
  • b)
    two fold classification.
  • c)
    three fold classification.
  • d)
    four fold classification.
Correct answer is option 'B'. Can you explain this answer?
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On the basis of presence and absence of an attribute, data are classif...
When on the basis  presence and absence of an attribute, the data are classified into two classes, one possessing that attribute and the other not possessing that attribute, it is called two-fold classification.
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On the basis of presence and absence of an attribute, data are classif...
Two-fold Classification of Data based on the presence and absence of an attribute

Data classification is the process of organizing and categorizing data into various groups or classes based on certain characteristics or attributes. One common way of classifying data is based on the presence and absence of a particular attribute. In this classification, data can be divided into two groups - one group includes data that possess the attribute, and the other group includes data that do not possess the attribute.

Explanation:

To understand the two-fold classification of data based on the presence and absence of an attribute, let's consider an example. Suppose we have a dataset of employees in a company, and we want to classify them based on their gender. The attribute here is "gender" which can have two possible values - male and female.

1. Presence of Attribute:
In this case, the data that possess the attribute (gender) are classified into one group. For example, all the female employees in the dataset would be grouped together as they possess the attribute "female". This group represents the presence of the attribute.

2. Absence of Attribute:
On the other hand, the data that do not possess the attribute (gender) are classified into another group. In our example, all the male employees in the dataset would be grouped together as they do not possess the attribute "female". This group represents the absence of the attribute.

Advantages of Two-fold Classification:
- Simplicity: The two-fold classification is straightforward and easy to understand as it involves only two groups.
- Clear Distinction: It clearly distinguishes between data that possess the attribute and data that do not possess the attribute.
- Efficient Analysis: This classification method allows for efficient analysis and comparison of data based on the presence or absence of an attribute.

Conclusion:
The two-fold classification of data based on the presence and absence of an attribute is a simple and effective way of organizing and categorizing data. It allows for clear distinction and efficient analysis, making it a valuable tool for data classification in various domains.
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Direction: Read the following passage and answer the question that follows:Jordan Cement Factories Company was set up in December 1951 as a share holding company. In March 1954, the company commenced business with the first bag of cement.In order to ascertain the cost of products for a particular period of time, the company prepares cost sheet, the cost sheet data are collected from various statements of accounts which have been written in cost accounts either on day to day or regular records. The main elements of cost sheet are prime cost,work cost and cost of production.The main principle that underlines the cost classifications of main elements of the cost is fixed and variable cost basis. The company does not consider any others basis like direct and indirect costs or revenue and capital cost or functional classification for cost classification. Fixed and variable cost is based on the changes in activity or volume. Fixed cost or period cost remain unchanged in spite of changes in volume or activity.Variable cost or product cost vary in complete proportion to the volume of output. Capital and revenue basis depends on the purpose of expenditure. Any cost incurred in purchasing assets either to earn income or increasing the earning capacity of the business is known as capital cost. But any cost incurred for the purpose of maintaining the earning capacity of the business it is revenue expenditure.Q. The main principle underlying the cost classification is the main element of the cost in ..................... and ..................... cost basis.

Direction: Read the following passage and answer the question that follows:Jordan Cement Factories Company was set up in December 1951 as a share holding company. In March 1954, the company commenced business with the first bag of cement.In order to ascertain the cost of products for a particular period of time, the company prepares cost sheet, the cost sheet data are collected from various statements of accounts which have been written in cost accounts either on day to day or regular records. The main elements of cost sheet are prime cost,work cost and cost of production.The main principle that underlines the cost classifications of main elements of the cost is fixed and variable cost basis. The company does not consider any others basis like direct and indirect costs or revenue and capital cost or functional classification for cost classification. Fixed and variable cost is based on the changes in activity or volume. Fixed cost or period cost remain unchanged in spite of changes in volume or activity.Variable cost or product cost vary in complete proportion to the volume of output. Capital and revenue basis depends on the purpose of expenditure. Any cost incurred in purchasing assets either to earn income or increasing the earning capacity of the business is known as capital cost. But any cost incurred for the purpose of maintaining the earning capacity of the business it is revenue expenditure.Q. Read the following statements - Assertion (

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On the basis of presence and absence of an attribute, data are classified intoa)one fold classification.b)two fold classification.c)three fold classification.d)four fold classification.Correct answer is option 'B'. Can you explain this answer?
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