STATISTICAL TECHNIQUES AND TOOLS
ANALYSIS OF VARIANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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VARIANCE
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FISHER
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ANOVA
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None of the above
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Detailed explanation-1: -What is Analysis of Variance (ANOVA)? Analysis of Variance (ANOVA) is a statistical formula used to compare variances across the means (or average) of different groups. A range of scenarios use it to determine if there is any difference between the means of different groups.
Detailed explanation-2: -It may seem odd that the technique is called “Analysis of Variance” rather than “Analysis of Means.” As you will see, the name is appropriate because inferences about means are made by analyzing variance. ANOVA is used to test general rather than specific differences among means.
Detailed explanation-3: -The F-test in one-way analysis of variance (ANOVA) is used to assess whether the expected values of a quantitative variable within several pre-defined groups differ from each other.
Detailed explanation-4: -An ANOVA test is a statistical test used to determine if there is a statistically significant difference between two or more categorical groups by testing for differences of means using a variance.