Understanding descriptive statistics like mean, median, mode, and standard deviation has become incredibly valuable in running my own business, Clifton Commercial Spaces, where I rent out salon chairs to independent stylists. These statistical tools help me make more informed, data-driven decisions that affect both my business and the success of the professionals who rent from me. The mean (average) is useful when looking at consistent trends, like average weekly rent collected across all stylists. The median gives a better snapshot when outliers (like late or early payments) could skew the numbers. The mode helps me see patterns such as which rent amount is most frequently paid if there are multiple rate tiers (e.g., full-time vs. part-time stylists). Standard deviation helps me understand how consistent or inconsistent payments are over time, showing the variability in cash flow. For example, one month I noticed that weekly rent payments varied significantly. I calculated the mean, but one stylist paying months in advance made the average seem higher than what most were paying weekly. By checking the median, I got a clearer view of what the typical stylist paid per week. Then I used standard deviation to measure how spread out those payments were it showed me that while some paid right on time, others were very inconsistent. This insight allowed me to reevaluate payment policies and offer incentives for on-time payments, improving both my cash flow and my relationships with tenants. Using these statistical measures in my day-to-day operations gives me a better grasp on bu