Business Studies, asked by abhinayaabhi2139, 2 months ago

A term factor in analysis of variance ANOVA refers to

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Answered by devanshgidwani28
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Answered by anjalirawat2031
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Introduction:

ANOVA is a statistical formula used to examine variances between means (or averages) of distinct groups. It is used in a variety of settings to determine whether there is any variation in the means of various groups.

Explanation:

ANOVA is based on the law of total variance, which divides the observed variance in a variable into components attributed to different causes of variation.

The One-way ANOVA is often known as a single factor analysis of variance since there is just one independent variable or factor. The independent variable has either the the nominal or  ordered levels.

Several parameters influence the type of ANOVA test used.. It is used when data must be experimental. If there is no access to statistical software, analysis of variance is used, which results in ANOVA being computed by hand. It is simple to use and works best with little samples. In many experimental designs, the sample sizes for the various factor level combinations must be the same.

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