as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain the differences between induction and deduction in philosophy.
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induction and deduction are two distinct forms of reasoning used in philosophy. deduction involves reasoning from a set of facts to a conclusion. it begins with premises that are assumed to be true and rules that logically connect these premises to a conclusion. induction, on the other hand, is a form of reasoning from a single observation to a general rule. it involves arriving at a conclusion based on observed patterns and probabilities. both induction and deduction can be used to make valid and reliable arguments, but each has its own strengths and weaknesses.
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