Browse MBAs SECTION 8: Business Statistics & Data Analytics

The Descriptive Statistics Interpreter

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The Descriptive Statistics Interpreter

Interpret this data and tell me what it's actually saying.

The data or summary: [PASTE OR DESCRIBE]
The context: [WHAT IT MEASURES AND WHY I CARE]

Provide:
1. The centre (mean, median) and which is more honest here, given any
   skew or outliers
2. The spread (range, standard deviation) and what the variability means
   in practice
3. The shape of the distribution and any outliers worth investigating
4. What the numbers say in plain business language
5. The misleading conclusion someone might draw from a summary statistic
   alone

Warn me where an average hides a bimodal or skewed reality.

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