The Best Way to Remember the Difference Between Qualitative and Quantitative

question 10

Short Answer

The best way to remember the difference between qualitative and quantitative data is that qualitative data focus mostly on _____________, while quantitative data focus mostly on _____________.

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Definitions:

Profitable Use

The effective and efficient utilization of resources or assets to generate maximum profit.

Special Order Units

Items that are produced or ordered specifically for a particular customer, which may have different pricing or costing compared to regular orders.

Annual Financial Advantage

The benefit gained in financial terms over the course of a year, which may result from increased revenues, decreased costs, or other financial improvements.

Regular Customers

Customers who repeatedly purchase goods or services from a business, showing loyalty and contributing to stable revenue.