Explain the importance of statistics in business.

1. Explain the importance of statistics in business. 2. Explain the difference between data and information. 3. What do the terms “descriptive statistics” and “statistical inference” refer to? 4. What is a population? Why is sample information generally used to make conclusions about the population? 5. What is a metric, and how does it differ from a measure? 6. Explain the difference between a discrete and a continuous metric.


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