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CA Foundation · Quantitative Aptitude · Statistical Description of Data

A bank in Kochi records the following for its customers: (i) account type (savings, current, fixed deposit), (ii) number of cheque books issued in a year, (iii) average monthly balance in ₹. Which option correctly classifies these variables?

Account type is an attribute, number of cheque books is a discrete variable, and average monthly balance is a continuous variable. Qualitative characteristics are attributes, countable whole-number values are discrete, and measurable values that can take any value in a range are continuous.

  1. A(i) attribute, (ii) discrete variable, (iii) continuous variableCorrect
  2. B(i) discrete variable, (ii) discrete variable, (iii) continuous variable
  3. C(i) attribute, (ii) continuous variable, (iii) continuous variable
  4. D(i) attribute, (ii) discrete variable, (iii) attribute

Explanation

Account type is a qualitative characteristic, so it is an attribute. The number of cheque books takes only whole values, so it is discrete. Average balance can take any value in a range, so it is continuous. Option B wrongly treats account type as a variable.

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