Descriptive Statistics : The Central Tendency And Dispersion, Using Mean, Mode, And Median
Just as the case of interest rates, descriptive statistics is appropriate for sales, because of its ability to evaluate the central tendency and dispersion, using mean, mode and median. A total of 385 participants were randomly selected to give their views about whether or not the future profits at Home Depot are influenced by interest rates and sales. The standard deviation for sales: 10.14628 was less than the mean: 10.97644 suggesting that they fall towards the mean (table 3). It also means that the statistical test is valid. The distribution in this case is a normal distribution because values are closer to the mean (Garson, 2001). The same is evident in the histogram.
Descriptive Statistics Interpretation
About 385 people were…