4. Introduction to Statistical Analysis

What is the mean in statistical analysis?

The arithmetic average of a dataset (sum divided by number of values).

What is the median used for in business analysis?

To find the middle value and reduce impact from outliers in skewed data.

How does standard deviation help a Business Analyst?

It shows how much the values deviate from the average, indicating data spread.

What is the purpose of data cleaning?

To remove errors, duplicates, and outliers for reliable analysis.

What are descriptive statistics used for in business analysis?

To summarize data characteristics using measures like mean, median, and standard deviation.