Question

Class interval in economics

Answer 1

Answer:

Hope it helps you .

Explanation:

Mathematically it is defined as the difference between the upper class limit and the lower class limit. Class Interval= Upper Class limit – Lower class limit. In statistics, the data is arranged into different classes and the width of such class is called class interval.

Answer 2

In Economics and Statistics,class interval basically refers to the difference between the upper and lower limit within a particular class of distribution.

Explanation:

Often times,in Statistics,any data set or distribution that is considerably large in size can be subdivided or further assorted into various groups or intervals based on the similarity among the data or observations in the data set.Such intervals denote separate or distinct classes within the data set or observation.Now,the lower limit and upper limit of the interval constitute the lowest and the highest values within a particular interval or subdivision.Class interval can be calculated by taking the difference between the upper and the lower limit within any particular interval.Therefore,class interval also denotes the range of any interval or frequency distribution.