descriptive statistics

  

Definition

Mathematical quantities (such as mean, median, standard deviation) that summarize and interpret some of the properties of a set of data (sample) but do not infer the properties of the population from which the sample was drawn. See also inferential statistics.

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  • If you want to be able to make a good educated guess about a likely outcome of an event then descriptive statistics are a great tool to use.

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  • Businesses are now taking very analytic approaches to their decisions and descriptive statistics are one of the main resources they are using.

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  • Scientist use descriptive statistics if they want to focus on a small group within the bigger group knowing that the data they find can't be used to try and figure out the behavior of that bigger group.

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