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How do you explain the analysis of variance assuming that your audience has not had a statistic class before?
Wiki User
∙ 11y ago
The measurement of any statistical variable will vary from one observation to another. Some of this variation is systematic - due to variations in some other variable that "explains" these variations. There may be several such explanatory variables - acting in isolation or in conjunction with one another. Finally, there will be a residual variation which cannot be explained by any of these "explanatory" variables.
The statistical technique called analysis of variance first calculates the total variation in the observations. The next step is to calculate what proportion of that variation can be "explained" by other variables, and finding the residual variation. A comparison of the explained variation with the residual variation is an indicator of whether or not the amount explained is statistically significant.
The word "explain" is in quotes because there is not always a causal relationship. The causality may go in the opposite direction. Or the variables may be related to another variable that is not part of the analysis.
Wiki User
∙ 11y ago
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Standard Costing Vs Variance Analysis?
standard costing and variance analysis
What is variance analysis in accounting?
Listen mate! I'll break it down to you.. variance analysis
The purpose of variance analysis?
Listen mate! I'll break it down to you.. variance analysis
How is standard costing variance interrelated?
http://www.futureaccountant.com/standard-costing-variance-analysis/ http://www.futureaccountant.com/standard-costing-variance-analysis/
Compare Standard costing vs variance analysis?
Compare Standard costing vs variance analysis?"
What is the meaning of analysis of covariance?
A mix of linear regression and analysis of variance. analysis of covariance is responsible for intergroup variance when analysis of variance is performed.
What has the author Hardeo Sahai written?
Hardeo Sahai has written: 'Analysis of variance for random models' -- subject- s -: Analysis of variance 'The analysis of variance' -- subject- s -: Analysis of variance
Distinguish between analysis of variance and analysis of covariance?
) Distinguish clearly between analysis of variance and analysis of covariance.
Advantages of using the analysis of variance?
Explian DOE using Variance Analysis
Standard Costing Vs Variance Analysis?
standard costing and variance analysis
What is variance analysis in accounting?
Listen mate! I'll break it down to you.. variance analysis
The purpose of variance analysis?
Listen mate! I'll break it down to you.. variance analysis
How is standard costing variance interrelated?
http://www.futureaccountant.com/standard-costing-variance-analysis/ http://www.futureaccountant.com/standard-costing-variance-analysis/
Compare Standard costing vs variance analysis?
Compare Standard costing vs variance analysis?"
An analysis of variance differs from a t test for independent means in that an analysis of variance?
Analysis of Variance (ANOVA) compares 3 or more means. The t-test would only compare 2 means.
What are the variances in a 4 variance analysis?
efficiency variance, spending variance, production volume variance, variable and fixed components
What has the author James H Bray written?
James H. Bray has written: 'Multivariate analysis of variance' -- subject(s): Multivariate analysis, Analysis of variance
