Asked by Jessica Nichole on May 30, 2024
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Descriptive statistics refers to the process of drawing conclusions about unknown characteristics of a population based on sample data.
Descriptive Statistics
Statistical methods that summarize or describe the basic features of a dataset, including measures like mean, median, and standard deviation.
Population
In statistics, Population refers to the entire set of individuals or items of interest in a study, from which samples may be drawn.
Sample Data
A subset of a population or universe that is selected for analysis, aiming to estimate or make inferences about the entire population.
- Recognize the application of statistical methods in business for data presentation and population estimation.
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Learning Objectives
- Recognize the application of statistical methods in business for data presentation and population estimation.
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