- CFA Exams
- CFA Exam: Level I 2021
- Study Session 2. Quantitative Methods (1)
- Reading 7. Statistical Concepts and Market Returns
- Subject 1. The Nature of Statistics

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**CFA Practice Question**

Descriptive statistics ______.

II. make probabilistic statements about returns

III. is most useful in the case of skewed distributions

I. is the study of how data can be summarized effectively to describe the important aspects of large data sets

II. make probabilistic statements about returns

III. is most useful in the case of skewed distributions

Correct Answer: I

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**User Contributed Comments**
3

User |
Comment |
---|---|

Bibhu |
Descriptive statistics does say nothing about probabilities of data. |

loisliu88 |
what is most useful in the case of skewed distributions. |

poomie83 |
Inferential statistics - all the way baby!! |