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“Data used in statistical study is termed as either “Primary” or “Secondary” depending upon whether it was collected specifically for the study in question or for some other purpose.” Explain both the sources of collecting the data in brief

  • Primary Data:
    Primary data refers to information collected directly from original sources for a specific research purpose.
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  • This data is firsthand and is obtained by the researcher or their team. Common methods of collecting primary data include surveys, interviews, experiments, observations, and direct measurements. Since primary data is collected with a particular research objective in mind, it is often more accurate and relevant to the study. However, collecting primary data can be time-consuming and may require more resources compared to utilizing existing data.
  • Secondary Data:
    Secondary data, on the other hand, is data that has already been collected for a purpose other than the current research study. This information can come from various sources, such as government publications, academic journals, market reports, and databases. Researchers analyze and interpret this pre-existing data to derive insights relevant to their own study. While secondary data is generally more readily available and less expensive to obtain, it may not perfectly align with the specific requirements of the current research, and its quality can vary. Researchers need to carefully evaluate the reliability and relevance of secondary data for their particular study.