MANOVA stands for Multivariate ANalysis Of VAriance is an extension of ANOVA. In ANOVA we have only one dependent variable but in MANOVA we have more than one dependent variable to include. It is used to test the differences between multiple factors of independent variables. MANOVA allows us to check the difference between different factors […]
ANOVA, or ANalysis Of VAriance, is a statistical practice for confronting means over groups. It is an abstraction of t-test which is used for comparing the means of two groups. When we are coping with groups more than two we move ahead to ANOVA. It assesses whether there are any statistically significant differences in the
Data visualization is a powerful tool for gaining insights into the patterns and trends hidden within numerical variables. Just like one or more categorical variables can be visualized using ggplot2 package in R, hidden trends of numerical variables can also be traced and discovered using the same package. To get started with the package, as
In R Programming, logistic regression is a grouping approach used to determine the likelihood of happening success and failure. When the dependent variable is binary (0/1, True/False, Yes/No), logistic regression is implemented. In a binomial distribution, the logit function is leveraged as a link function. The logistic function, frequently known as the sigmoid function, is
In econometric models, some variables can play a very important role in the explanation of an economic phenomenon. For instance, gender can play a crucial role in determining salary levels. However, quantifying gender isn’t straightforward because gender lacks a numerical nature. This tutorial aims to explain methods for incorporating such information into econometric models, employing
