Quantitative data is any kind of data that can be measured numerically. For example, quantitative data is used to measure things precisely, such as the temperature, the amount of people in a crowd or the height of a structure. Although quantitative data usually involves numbers and equations, some data records actions, such as the frequency of human behavior.Know More
Quantitative research methods are most often used science, psychology and economics. Although quantitative data involves exact measurements, the data is still subject to variables. For example, a researcher gathering quantitative data on the financial earnings of a group of people may not have access to all financial documents, or some earnings may not be reported. However, quantitative data relies less on interpretation, so it is generally considered to be very accurate.
Quantitative data is often analyzed using statistics to record the frequency of occurrences. This kind of data rarely results in a new theory. Instead, most quantitative data builds on existing academic theories.
Quantitative data is often contrasted to qualitative data. Qualitative data is commonly used in the social sciences to record and analyze observations that cannot be measured or quantified, such as the behavior of people. However, qualitative and quantitative data can both be used to investigate the same research question and reach the same conclusion.Learn more about Statistics
According to HealthKnowledge, the main disadvantage of parametric tests of significance is that the data must be normally distributed. The main advantage of parametric tests is that they provide information about the population in terms of parameters and confidence intervals. Another advantage of parametric tests is that they are easier to use in modeling (such as meta-regressions) than are non-parametric tests.Full Answer >
Statistics are a methodology necessary in the field of statistics and are used to collect, analyze and evaluate data. Economics depends heavily on the use of statistics.Full Answer >
The box-and-whisker plot is a technique in statistics that graphically shows the distribution of a set of data involving the minimum and maximum values, as well as the first, second and third quartiles. The plot is typically drawn using a number line.Full Answer >
Chebyshev's theorem, or inequality, states that for any given data sample, the proportion of observations is at least (1-(1/k2)), where k equals the "within number" divided by the standard deviation. For this to work, k must equal at least 1. This theorem provides a way to know what percentage of data lies within the standard deviations from any data set.Full Answer >