Descriptive statistics summarize and describe the key features of a dataset: central tendency (mean, median, mode), spread (range, variance, standard deviation), and shape (skewness, kurtosis). They condense large datasets into interpretable summaries.
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Pro Tip
For skewed data (like incomes, house prices), the median is a better measure of central tendency than the mean. Use mean when data is approximately normally distributed.
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Did You Know?
Average salary statistics are often misleading because mean income is higher than median income due to a small number of very high earners. The median better represents "typical" income — in the US, median household income is about $75k while mean is $100k+.
References
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