Descriptive statistics analysis example

Types of descriptive statistics
Predictive analytics
What are examples of descriptive analysis?
Examples of metrics used in descriptive analytics include year-over-year pricing changes, month-over-month sales growth, the number of users, or the total revenue per subscriber.
Descriptive analytics is used in conjunction with newer analytics, such as predictive and prescriptive analytics..
What is an example of descriptive statistics?
Examples include measures of central tendency, such as mean, median, and mode, which provide information about the typical value in the dataset.
Measures of variability, such as range, variance, and standard deviation, describe the spread or dispersion of the data._{Oct 19, 2023}.
Descriptive Results
1. Add a table of the raw data in the appendix
2. Include a table with the appropriate descriptive statistics e
3. Identify the level or data
4. Include a graph
5. Give an explanation of your statistic in a short paragraph
Examples of descriptive analytics include KPIs such as year-on-year percentage sales growth, revenue per customer and the average time customers take to pay bills.
The products of descriptive analytics appear in financial statements, other reports, dashboards and presentations.

Descriptive statistics are methods used to summarize and describe the main features of a dataset. Examples include measures of central tendency, such as mean, median, and mode, which provide information about the typical value in the dataset.

Example 1: To calculate descriptive statistics: Mean: Add up all the scores and divide by the number of scores. Mean = (85 + 90 + 75 + 92 + 88 + 79 + 83 + 95 + 87 + 91 + 78 + 86 + 89 + 94 + 82 + 80 + 84 + 93 + 88 + 81) / 20 = 1770 / 20 = 88.5. Median: Arrange the scores in ascending order and find the middle value.

Understanding Descriptive Statistics The mean, or the average, is calculated by adding all the figures within the data set and then dividing by the number of figures within the set. For example, the sum of the following data set is 20: (2, 3, 4, 5, 6). The mean is 4 (20/5).

What are the types of statistical methods used in data analysis?

Two types of statistical methods are widely used in data analysis: descriptive and inferential

This article will focus more on descriptive statistics, its types, calculations, examples, etc

This article was published as a part of the Data Science Blogathon

What is Descriptive Statistics? What is Inferential Statistics?

What is a descriptive analysis example?

Descriptive analysis can also be conducted as the precursor to diagnostic or predictive analysis, providing insights into what has happened in the past before attempting to explain why it happened or predicting what will happen in the future

As an example of descriptive analysis, consider an insurance company analyzing its customer base

5 Examples of Descriptive Analytics

1. Traffic and Engagement Reports One example of descriptive analytics is reporting. ...
2. Financial Statement Analysis Another example of descriptive analytics that may be familiar to you is financial statement analysis. ...

The teacher could use descriptive statistics to summarize this data:

Mean (average): (85 + 90 + 88 + 92 + 78 + 88 + 94)/7 = 88

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Descriptive statistics analysis example

Types of descriptive statistics

What are examples of descriptive analysis?

What is an example of descriptive statistics?

Descriptive Results

What are the types of statistical methods used in data analysis?

What is a descriptive analysis example?