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Construction of a Statistical Table
A statistical table has at least four major parts and some other minor parts.
(1) The Title
(2) The Box Head (column captions)
(3) The Stub (row captions)
(4) The Body
(5) Prefatory Notes
(6) Foot Notes
(7) Source Notes
The general sketch of table indicating its necessary parts is shown below:
(1) The Title
The title is the main heading written in capitals shown at the top of the table. It must explain the contents of the table and throw light on the table, as whole different parts of the heading can be separated by commas. There are no full stops in the little.
(2) The Box Head (column captions)
The vertical heading and subheading of the column are called columns captions. The spaces where these column headings are written is called the box head. Only the first letter of the box head is in capital letters and the remaining words must be written in lowercase.
(3) The Stub (row captions)
The horizontal headings and sub heading of the row are called row captions and the space where these rows headings are written is called the stub.
(4) The Body
This is the main part of the table which contains the numerical information classified with respect to row and column captions.
(5) Prefatory Notes
A statement given below the title and enclosed in brackets usually describes the units of measurement and is called the prefatory notes.
(6) Foot Notes
These appear immediately below the body of the table providing additional explanation.
(7) Source Notes
The source notes are given at the end of the table indicating the source the information has been taken from. It includes the information about compiling agency, publication, etc.
General Rules of Tabulation
A table should be simple and attractive. There should be no need of further explanation (details). Proper and clear headings for columns and rows are necessary. Suitable approximation may be adopted and figures may be rounded off. The unit of measurement should be well defined. If the observations are large in numbers they can be broken into two or three tables. Thick lines should be used to separate the data under big classes and thin lines to separate the sub classes of data.
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FAQs on Construction of statistical tables, Business Mathematics & Statistics - Business Mathematics and Statistics - B Com
| 1. What is the purpose of constructing statistical tables in business mathematics and statistics? |  |
Ans. Statistical tables are constructed to present and organize data in a systematic manner, making it easier to analyze and interpret. These tables provide a concise summary of data, allowing businesses to make informed decisions based on the information provided.
| 2. How are statistical tables used in business mathematics and statistics? | |
Ans. Statistical tables are used in business mathematics and statistics to calculate various statistical measures such as mean, median, mode, standard deviation, correlation, and regression analysis. These tables also assist in conducting hypothesis tests, determining probabilities, and making predictions based on historical data.
| 3. What types of statistical tables are commonly used in business mathematics and statistics? | |
Ans. Commonly used statistical tables in business mathematics and statistics include probability distribution tables (e.g., z-table, t-table, chi-square table), cumulative frequency distribution tables, percentiles and quartiles tables, and correlation coefficient tables. These tables provide critical values and probabilities necessary for statistical analysis.
| 4. How do statistical tables help in decision-making in business? | |
Ans. Statistical tables play a vital role in decision-making by providing business owners and managers with relevant statistical information. These tables help identify patterns, trends, and relationships in data, enabling businesses to make data-driven decisions. For example, statistical tables can be used to analyze sales data and determine which products are performing well or to evaluate the effectiveness of marketing campaigns.
| 5. Are statistical tables still relevant in the digital age of advanced data analysis software? | |
Ans. Yes, statistical tables are still relevant in the digital age, despite the availability of advanced data analysis software. Statistical tables provide a quick reference and readily available source of critical values and probabilities. They are often used in conjunction with data analysis software to verify results or to access information when data analysis software is not readily available. Moreover, statistical tables can be used as a learning tool to understand the underlying concepts and principles of statistical analysis.
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like Construction of a Statistical Table, (1) The Title, (2) The Box Head (column captions), (3) The Stub (row captions), (4) The Body, (5) Prefatory Notes , (7) Source Notes, General Rules of Tabulation and Construction of statistical tables, Business Mathematics & Statistics Example, for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Construction of statistical tables, Business Mathematics & Statistics.
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