This document discusses the role of statistics in business decision making. It describes descriptive statistics, which presents data in a way that is easier to understand through charts and graphs. Descriptive statistics measures central tendency and the spread of data using metrics like mean, median, mode, range, and standard deviation. The document also covers inferential statistics, which analyzes data samples to estimate parameters and test hypotheses. Examples are given of how statistics are used in various business contexts like Wall Street analysis and clothing design to draw conclusions from raw data and inform future decisions.