BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Another inferential analysis test is correlation analysis, which is used to understand the extent to which two variables are dependent on one another. This analysis essentially tests the strength of the relationship between two variables, and if their correlation is strong or weak.

Detailed explanation-2: -A factorial ANOVA is used when you have two or more variables/factors/dimensions, and you want to explore whether there are interactions between these factors. Essentially, you are comparing the means of the various combinations of factors.

Detailed explanation-3: -Example: Inferential statistics You randomly select a sample of 11th graders in your state and collect data on their SAT scores and other characteristics. You can use inferential statistics to make estimates and test hypotheses about the whole population of 11th graders in the state based on your sample data.

Detailed explanation-4: -Inferential statistics are often used to compare the differences between the treatment groups. Inferential statistics use measurements from the sample of subjects in the experiment to compare the treatment groups and make generalizations about the larger population of subjects.

Detailed explanation-5: -The correlation coefficient is a simple descriptive statistic that measures the strength of the linear relationship between two interval-or ratio-scale variables (as opposed to categorical, or nominal-scale variables), as might be visualized in a scatter plot.