Bin

Published by MBA Skool Team, Last Updated: January 22, 2018

What is Bin?

In order to understand bin we first need to know what a histogram is. A histogram is a graphical representation of a data set, showing the frequency of occurrence. The y axis has the frequency and x axis has the data spread in ranges. The intervals into which the entire range of the data is split into is called as the bin. Then from the data set, all the numbers that exist in a particular bin are then counted to find the frequency.

For Example: 5, 7, 13, 18, 19, 21, 27, 28, 29, 36, 42, 45 represents a data set. Now we organize the following data into small data as follows

0-9       : 5, 7                           Frequency is 2

10-19   :13, 18, 19                   Frequency is 3

20-29   :21, 27, 28, 29              Frequency is 4

30-39   :36                              Frequency is 1

40-49   :42, 45                         Frequency is 2

In the above case 0-9 represents the bin and 9-0 = 9 is the bin width.

This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.

Browse the definition and meaning of more similar terms. The Management Dictionary covers over 2000 business concepts from 6 categories.

Search & Explore : Business Concepts



Share this Page on:
Facebook ShareTweetShare on Linkedin