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Biostratigraphy is the study of the vertical distribution of fossils in rock layers to determine the relative ages of different strata. This method relies on the principle of faunal succession, which states that different fossilized organisms existed during specific time periods and can be used to correlate and date rock formations. By analyzing the types and abundance of fossils present in a particular layer, biostratigraphers can establish a chronological framework for geological events and formations.