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Sir I have doubt in the first question of this chapter, im a little confused related to secondary and primary data.
>Average wage paid to our employees.
Sir why is this secondary?
Because the data was not collected specifically for the purpose for which it is being used.
I would also like to have some explanation concerning answer 1
count the number of invoices issued each week.
Why is it secondary?
Counting the invoices is not the specific purpose? That is primary.Thanks for any clarification
Dear Mel,
Kindly Note the classification of Primary or secondary depends on whether u had collected the date specifically for the purpose or not.
Let me explain. For people interested to know the occurence of earthquake in a region, they may collect the earthquake history of past 10 years. Now for these people this is primary data.
In case this same data is further used by Insurance company in business of insuring earthquake policies, the same data becomes secondary.
Kindly let me know if you need any further clarification
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