The Main Purpose of Descriptive Statistics Is To

question 16

Multiple Choice

The main purpose of descriptive statistics is to:

• A) Summarize data in a useful and informative manner.
• B) Make inferences about a population.
• C) Determine if the data adequately represents the population.
• D) Gather or collect data.

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Definitions:

Government Backing

The support or endorsement provided by a government to an entity, which can include financial guarantees, subsidies, or policies beneficial to the entity.

Overvalued

When the market price of an asset exceeds its intrinsic value.

Liquefied Petroleum Gas

A fuel gas made of hydrocarbons like propane and butane, used in heating appliances, cooking equipment, and vehicles.

Currency Exchange

The process by which entities swap one nation’s currency for that of another.