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Economics depends on various subjects, and statistics is one of them. In subjects like economics, statistical approaches are employed for collecting and analyzing the material.
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Graphs or tables are useful for the interpretation of such varieties of statistical knowledge. Numerous raw principles of statistics including imply, median, and manner are Utilized in this sort of statistical data.
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Quantitative incorporates gathering and investigation of information in variety of figures whereas qualitative involves accumulation of data in non-numerical formats.