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What is the difference between qualitative data and quantitative data, provide an example of each -
First of all, the Quantitative data comprises of figures as well as frequencies instead of putting focus on understanding and connotation. Quantitative data could be easily acquired from numerous sources including psychometric assessments, experiments, questionnaire etc. For instance, data acquired from experiments that are based on numbers. In contrary to this, qualitative data encompasses data that is related to throwing light on the connotation in place of numerical data. Additionally, qualitative data could be effortlessly amassed through interviews etc. For instance, information accumulated through unstructured interviews outcomes.
Economic order size is that size of the order which gives maximum economy in purchasing any item of material. The other terms used for economic order size are economic
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