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Analysis of covariance (ANCOVA)
It is initially used for an expansion of the analysis of variance which permits to the possible effects of continuous concomitant variables (such as covariates) on the response variable, additionally to the effects of the factor or the treatment variables. Generally supposed that covariates are unaffected by the treatments and that their relationship to the response is linear in nature. If such a relationship exists then the inclusion of covariates in this means decreases the error mean square and thus increases the sensitivity of the F-tests used in assessing the treatment differences. The term now seems to also be more generally used for almost any of the analysis seeking to assess the relationship among response variable and a number of the explanatory variables
Methods of Forecasting Various techniques which are generally used in business forecasting are as under: 1. Forecasting through the opinion of heads of department
What does the confidence level of a confidence interval tell you? Suppose that a population has mean, µ, and standard deviation, σ. What does the central limit theorem tell us
The project of building a backyard swimming pool consists of eight major activities and has to be completed within 19 weeks. The activities and related data are given in the follow
advantage and disadvantage
A. Compute descriptive statistics for each stock and the S&P 500. Comment on your results. Which stocks are most volatile?
Difference between Correlation and Regression Analysis 1. Degree and Nature of Relationship: Coefficient of correlation measures the degree of covariance between two vari
The 4 assumptions of regression: 1. Variables are normally distributed 2. Linear relationship between the independent and dependent variables 3. Homosced
Deviation Measures The drawback of the range as a measure of dispersion is that it takes into account the values of only two data points - the largest and the smallest. One
A consumer preference study involving three different bottle designs (A, B, and C) for the jumbo size of a new liquid detergent was carried out using a randomized block experimenta
Coefficient of Variation or C.V. To compare the variability between or more series, coeffiecnt of variation is used, it is relative measure of dispersion, it innovated and used
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