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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give a definition of the term "empirical evidence" in your own words.
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empirical evidence is information that is gathered from direct experience or observation, as opposed to coming from theory or belief. it is used to draw conclusions about a given situation or phenomenon.
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