What Type of Statistics Is Used to Summarize and Organize

question 184

Multiple Choice

What type of statistics is used to summarize and organize data?

• A)computational
• B)numerical
• C)descriptive
• D)inferential

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Definitions:

Operating Expenses

Operating expenses are the costs associated with running a business's core operations on a daily basis, including rent, utilities, and payroll.

Mark-up

A supplementary percentage of the cost price of products designed to account for overhead costs and profit margins.

Profit or Loss

The financial outcome of a business or investment, determined by subtracting expenses from revenue, indicating either earnings (profit) or shortfall (loss).

Outstanding Balance

The amount of money owed that remains in a borrower's account that has not yet been paid.