Which Type of Statistics Are Used for Decision-Making,for Generalizing from Small

question 13

Multiple Choice

Which type of statistics are used for decision-making,for generalizing from small samples,and for drawing conclusions?

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

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Definitions:

Fiscal Policy

Government adjustment of its spending levels and tax rates to monitor and influence a nation's economy.

Government Spending

The total amount of public sector expenditure, including spending on infrastructure, healthcare, education, and defense by the government.

GDP

Gross Domestic Product, the total market value of all finished goods and services produced within a country in a given period.

Economic Recovery

A period in which economic activity rebounds following a recession or economic downturn, characterized by increases in employment, consumer spending, and growth.