Question
What do you understand by 'classification of data' ?
Solution
'Classification' means arranging things in an appropriate order and putting them into homogeneous groups. For example, in library, the books and periodicals are classified and arranged according to subjects; students are grouped according to division they secure in a certain examination; plants and animals may be assigned to groups distinguished by structure, origin, etc.
Data may be arranged by time, or space or both. For example, we have time series data on aggregate income, aggregate consumption, size of the population, etc.
