Analysis of variance (anova), Applied Statistics

Assignment Help:

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


Related Discussions:- Analysis of variance (anova)

Poisson distribution, Poisson Distribution The poisson Distribution  wa...

Poisson Distribution The poisson Distribution  was discovered  by French mathematician simon  denis  poisson. It is a discrete probability distribution. Meaning : In bi

The incidence of occupational disease , The incidence of occupational disea...

The incidence of occupational disease in an industry is such that the workers have a 20% chance of suffering from it. What is the probability that out of six workers 4 or more will

Measures of dispersion, calculate variance and standard deviation of the f...

calculate variance and standard deviation of the following sample 12,22,32,13,12,23,34,52,56,23,44,32,11,11

Sampling error , Sampling Error  It is the difference between the value...

Sampling Error  It is the difference between the value of the actual population parameter and the sample statistic. Samples are used to arrive at conclusions regarding the p

Compute the sample mean and sample standard deviation, We want to investiga...

We want to investigate the income data.  In the Excel file Midterm  Data.xls there is a tab labeled "Income Data 2006".  The data in the tab is the income reported by 400 people in

Probability of remaining paint free, In a three-cornered paint ball duel, A...

In a three-cornered paint ball duel, A, B, and C successively take shots at each other until only one of them remains paint free. The three paint ballers have different probabiliti

Index number, give a elementary example for characterstics of index number

give a elementary example for characterstics of index number

Penman-monteith method, (a) Average rainfall during the month of January...

(a) Average rainfall during the month of January is found to be 58 mm. A Class A pan evaporation recorded an average of 8.12 mm/day near an irrigation reservoir. The average

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd