What Type of Statistics Is Used to Organize and Describe

question 43

Multiple Choice

What type of statistics is used to organize and describe the characteristics of a collection of data?

• A)inferential
• B)descriptive
• C)ordinal
• D)nominal

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Definitions:

Inventory Cost

The total cost associated with holding and storing unsold goods, including warehousing, insurance, depreciation, and opportunity costs.

Transportation Cost

Expenses incurred in the process of moving goods from one location to another, including freight charges, fuel costs, and maintenance.

Channel Activity

Actions or operations undertaken by intermediaries in the distribution channel to move products from producers to consumers.

Information

Pertains to data, facts, or details that are organized and processed to be meaningful and useful for decision-making processes.