Introduction
As introduced in Chapter 3, descriptive statistics are the basic analyses of:
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Centrality of variables
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Spread of variables
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Distributions of variables
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Other elements describing variables, such as type
Don’t be mistaken: even the simplest of descriptive statistics are critical in business.
Measures of centrality are used every day in thousands of business situations and
they drive major strategic choices. Everything from average spending, investment returns,
employee turnover statistics, production figures and many more are examples used in
business. Even such simple statistics have traps that can sabotage business decisions,
however, if the analysis is wrong.
In addition, if you are going on to do more complex ...
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