.png){kind=logo}
1. Which of the following statements best describes the purpose of
descriptive statistics in business?
A) Descriptive statistics helps to make predictions about future outcomes.
B) Descriptive statistics summarizes data to provide a clear picture of
what has happened.
C) Descriptive statistics tests hypotheses about relationships between
variables.
D) Descriptive statistics helps to estimate population parameters with a
high degree of accuracy.
Answer: B) Descriptive statistics summarizes data to provide a clear
picture of what has happened.
Rationale: Descriptive statistics is used to organize, summarize, and
present data in a meaningful way to provide insight into what has
occurred.
2. In business, inferential statistics is used for:
A) Describing data with measures of central tendency and dispersion.
B) Making predictions about future outcomes based on historical data.
C) Testing hypotheses and drawing conclusions about populations.
D) Summarizing data to provide a clear picture of past events.
Answer: C) Testing hypotheses and drawing conclusions about
populations.
Rationale: Inferential statistics is used to make inferences or predictions
about a population based on a sample of data.
3. What type of data is most commonly analyzed using descriptive
statistics in business?
A) Qualitative data
B) Discrete data
C) Continuous data
D) Categorical data
Answer: C) Continuous data
Rationale: Continuous data refers to measurements that can be represented
on a continuous scale, such as weight, height, or time, which areÂÂ
.png)