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Collecting data to use in statistics, or summarizing the data, is only an advantage in business if a manager uses a logical approach and collects and reports data in an ethical manner.

socratic.org/questions/what-is-the-importance-of...

Descriptive statistics is the discipline of quantitatively describing the main features of a collection of information, or the quantitative description itself. Descriptive statistics are very important because if we simply presented our raw data it would be hard to visulize what the data was showing, especially if there was a lot of it.

onlinestatbook.com/2/introduction/descriptive.html

Descriptive statistics are just descriptive. They do not involve generalizing beyond the data at hand. Generalizing from our data to another set of cases is the business of inferential statistics, which you'll be studying in another section. Here we focus on (mere) descriptive statistics.

Descriptive statistics are used to summarize data. Learn about the different kinds of descriptive statistics, the ways in which they differ from inferential statistics, how they are calculated ...

Growing a business without the use of statistics is virtually impossible. In large organizations, statistics are used to make a wide range of decisions. In small businesses, statistics help banks make decisions on whether to offer loans based on key financial ratios contained in a company's financial statement, loans that can be used to grow a ...

The Business Statistics and Analysis Specialization is designed to equip you with a basic understanding of business data analysis tools and techniques. You’ll master essential spreadsheet functions, build descriptive business data measures, and develop your aptitude for data modeling.

Descriptive statistics aims to summarize the sample using statistical measures, such as average, median, standa … rd deviation etc. For example, if we look at a basketball team's game scores ...

www.investopedia.com/terms/d/descriptive_statistics.asp

People use descriptive statistics to repurpose hard-to-understand quantitative insights across a large data set into bite-sized descriptions. A student's grade point average (GPA), for example ...

intellspot.com/descriptive-statistics-examples

When it comes to descriptive statistics examples, problems and solutions, we can give numerous of them to explain and support the general definition and types. Let’s first clarify the main purpose of descriptive data analysis. It’s to help you get a feel for the data, to tell us what happened in the past and to highlight potential relationships between variables.

statistics.laerd.com/statistical-guides/descriptive...

Descriptive and Inferential Statistics. When analysing data, such as the marks achieved by 100 students for a piece of coursework, it is possible to use both descriptive and inferential statistics in your analysis of their marks.

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