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Discuss the purpose of using descriptive statistics

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Reference no: EM132392355

Discuss the purpose of using descriptive statistics? When would you use descriptive over inferential statistics? How do they differ from inferential statistics?

How are statistics useful for making managerial decisions?

Why is statistical analysis preferable to visual inspection ("eye-balling") of data when making managerial decisions?

Why is it generally not a good idea to use statistics as the only tool for decision making?

Reference no: EM132392355

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