If you were given a large data set (i.e., sales over the last year of our top 100 customers), what might you be
able to do with these data? What might be the benefits of describing the data?
Given a word problem or case study, and an accompanying data set that addresses a business situation such
as daily demand or monthly sales, use an appropriate sampling method to determine a sample size, then
calculate numerical summaries, including measures of central tendency, such as mean and median and
measures of variation including range and standard deviation
Given a word problem or case study, and an accompanying data set that addresses a business situation such
as daily demand or monthly sales, develop graphical presentations of the data, including histograms and stem
and leaf displays. Descriptive statistics summarize the raw data and makes it easier for humans to interpret it
(Gelman & Nolan, 2017)
Sample Solution