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What is primary data in statistics?
Primary data is is data that has been observed or collected first hand
What is the importance of statistics to business?
usinesses rely heavily on statistics to determine consumer trends and calculate important economic data. The data that is collected and the information derived from that data is useful in planning...
What is the main purpose of descriptive statistics?
Descriptive statistics is the branch of statistics concerned with the collection, organization, summation and presentation of data.
What is statistics and its role in society?
Statistics can be defined as the collection of , analysing of, and interpreting of data for the purpose of making useful decision. The major role of statistics in the society is that it presents data in a precise and simple form.
What are the different between primary data and secondary data?
Primary data is data which has been collected by yourself, which is more reliable and up to date. Secondary data has been collected from a secondary source (Other people, business etc.) so it may not be valid or up to date."Primary" and "secondary" are terms used to define data relative to the purpose by which the data were collected originally."Primary data" are data collected for the need at hand."Secondary data" are data that were collected for another reason but is being re-purposed to address the need at hand.When describing the expertise of data analysts, it is not uncommon to distinguish between primary and secondary data analytics. Primary data analytics involves the ability to analyze data for the purpose by which it has been collected. Secondary data analytics involves identifying "secondary data sources" to solve a new problem and then the ability to re-purpose that data.Primary data is a data which is created for the first time and there is no previous source available. Secondary data is a readily available data like data from trade directories,statistics from websites etc. In Dissertation Literature review is done through secondary data which includes the contents such as theories, models, compilation, research findings by some other scholar etc.
