CA Foundation · Quantitative Aptitude · Statistical Description of Data
The annual sales of a Surat textile firm for 2019 to 2023, recorded year by year, are an example of which type of data classification?
The data are time series data. They record the same variable, annual sales of one firm, over successive years. Cross-sectional data, by contrast, compare different units at one point in time, and sales amounts are numerical rather than categorical.
- ACross-sectional data
- BTime series dataCorrect
- CCategorical data
- DNominal data
Explanation
Values of one variable recorded over successive time periods form a time series. Cross-sectional data would compare many units at a single point in time. Sales figures are numerical, so they are not categorical or nominal.
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