What are descriptive statistics used for?

What are descriptive statistics used for?

• A. To predict future trends
• B. To summarize collected data
• C. To analyze consumer psychology
• D. To forecast sales performance

Answer: (B)

Descriptive statistics are specifically designed to summarize and organize data in a meaningful way. They provide essential insights into the overall characteristics of the dataset, such as measures of central tendency (mean, median, mode) and measures of variability (range, variance, standard deviation). By summarizing the data, descriptive statistics help to clarify and highlight key features, allowing researchers or analysts to present information in a concise manner. This utilization of descriptive statistics enables the identification of patterns and trends within the data, serving as a foundational step before moving on to more complex analyses or interpretations. In contrast, the other options focus on future predictions or analyses that require inferential techniques or deeper psychological insights, which are beyond the primary role of descriptive statistics.

Descriptive statistics are specifically designed to summarize and organize data in a meaningful way. They provide essential insights into the overall characteristics of the dataset, such as measures of central tendency (mean, median, mode) and measures of variability (range, variance, standard deviation). By summarizing the data, descriptive statistics help to clarify and highlight key features, allowing researchers or analysts to present information in a concise manner. This utilization of descriptive statistics enables the identification of patterns and trends within the data, serving as a foundational step before moving on to more complex analyses or interpretations.

In contrast, the other options focus on future predictions or analyses that require inferential techniques or deeper psychological insights, which are beyond the primary role of descriptive statistics.