Different Method of Data Analysis Used In Economics

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Different Method of Data Analysis Used in Economics

Due Date Data analysis is the process of systematic and logical illustration, description, condense, and data description to make it meaningful to the recipient. The data analysis technique used is determined by the type of data that needs to be analyzed. There are two Qualitative and quantitative data analysis techniques are methods applicable to data analysis in economics. Other data analysis techniques include text, statistical, and diagnostic analysis.

Qualitative Analysis

The quantitative data analysis method mainly answers questions about why, when, and how something happened. To address quantitative analysis techniques, such as questionnaires, expected outcomes, attitude scaling, and questionnaires are employed (Starr, 2014). Quantitative analysis is in the form of narratives and texts that might include videos and audio presentations. Example of qualitative...