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What are the two basic types of economies?
Descriptive Statistics
Statistical methods that summarize and organize the characteristics of a data set.
Summarizing Data
The process of reducing data complexity by providing a compact representation through measures of central tendency, dispersion, and other statistical summaries.
Qualitative Data
Non-numeric information that describes qualities or characteristics, often collected through observations, interviews, or open-ended surveys.
Graphical Techniques
Methods used in statistics and data analysis to visually represent data, aiding in its interpretation and analysis.
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