Analysis of variance (anova), Applied Statistics

Analysis of variance allows us to test whether the differences among more than two sample means are significant or not. This technique overcomes the drawback of the method used in statistical inferences, which allows us to test the significance among the means drawn from two populations only. Since managers are required to test the significance of the differences among the means and variances drawn from more than two populations, the importance of this technique cannot be underestimated. Therefore it is natural that this technique plays an important role in the day-to-day decision making. We do observe a certain degree of similarity between this technique and the Chi Square test (employed for testing significance of proportions among more than two populations) which we have seen earlier.

A suitable example for ANOVA would be to compare the stipend given to the management graduates belonging to various premier institutes during their summer internship. If we would set up a hypothesis to test the significance of the differences among the means, it would be like

893_ANOVA.png

Posted Date: 9/15/2012 6:12:33 AM | Location : United States







Related Discussions:- Analysis of variance (anova), Assignment Help, Ask Question on Analysis of variance (anova), Get Answer, Expert's Help, Analysis of variance (anova) Discussions

Write discussion on Analysis of variance (anova)
Your posts are moderated
Related Questions
Examine the given statement, then express the null hypothesis H0 and the alternative hypothesis H1 in symbolic form. The mean weight of women who won a beauty pageant is equal t

The investor has constant wealth 1 and is o?ered to invest in shares of a project that either gains 3=2 or loses 1 with equal probabilities. Therefore, if the investor obtains sha

Test the following claim. Identify the null hypothesis, alternative hypothesis, test statistic, critical value(s), conclusion about the null hypothesis, and final conclusion that

Statistical Process Control The variability present in manufacturing process can either be eliminated completely or minimized to the extent possible. Eliminating the variabilit

.1 Modern hotels and certain establishments make use of an electronic door lock system. To open a door an electronic card is inserted into a slot. A green light indicates that the

A.The coupon rate of Erie-Chicago Rail is 7%. The interest rate of Florida municipal bond with equal risk is 6%.  At what tax rate the two bonds are as good as each other B.Supp


A study was conducted to determine the amount of heat loss for a certain brand of thermal pane window. Three different windows were randomly subjected to each of three different ou

Make a decision about the given claim. Use only the rare event rule, and make subjective estimates to determine whether events are likely. For example, if the claim is that a coi

Chi Square Test as a Distributional Goodness of Fit In day-to-day decision making managers often come across situations wherein they are in a state of dilemma about the applica