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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
Problem: A survey usually originates when an individual or an institution is confronted with an information need and the existing data are insufficient. Planning the questionn
JAR 21 SUPPLEMENTAL TYPE CERTIFICATION JAR 21 Part E introduces the need for Supplemental Type Certification when a manufacturer wishes to make major changes to the Type Desig
Correspondence analysis is an exploratory technique used to analyze simple two-way and multi-way tables containing measures of correspondence between the rows and colulnns of an
First we look at these charts assuming that we know both the mean and the standard deviation of the process, that is μ and σ . These values represent the acceptable values (bench
Regression Lines It has already been discussed that there are two regression lines and they show mutual relationship between two variable . The regression line Yon X gives th
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Ask question #MinimumA wedge is small piece of material having two of their opposite faces not parallel. To lift block of weight W, it is pushed by horizontal force P which lifts t
in a normal distribution with a mean of 85 and a STD of 5, what is the percentage of scores between 75 and 90?
Make a decision about the given claim. Do not use any formal procedures and exact calculation. Use only the rare event rule. Claim: A coin favors head when tossed, and there
Using Chi Square Test when more than two Rows are Present To understand this, let us consider the contingency table shown below. It gives us the information about the stage
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