What is Cost based Optimization and Rule Based Optimization

What is the differences between it.

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Rule Based Optimization is an older technique which is used for optimization of queries but follows a fixed rule or strategy for achieving the same. But in contrast cost Based Optimization is a later new technique which is also used for optimization of queries by making it to execute in a faster speed but does that by examining various statistics involved and associated with the queries and takes the best path, index for doing the same.

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