Professional Documents
Culture Documents
Types of Anova
One-way ANOVA uses one independent variable, while a two-way ANOVA uses two
independent variable.
Manova
A MANOVA (“Multivariate Analysis of Variance”) is identical to an ANOVA, except it
uses two or more response variables. Similar to the ANOVA, it can also be one-way or two-
way. Note: An ANOVA can also be three-way, four-way.
Types of Manova
The one-way multivariate analysis of variance (one-way MANOVA) is used to determine
whether there are any differences between independent groups on more than one continuous
dependent variable. In this regard, it differs from a one-way ANOVA, which only measures one
dependent variable.
(in a two-way MANOVA) are groups where there is no relationship between the participants
in any of the groups.
2.Factor Analysis
It is a technique that is used to reduce a large number of variables into fewer numbers of factors.
This technique extracts maximum common variance from all variables and puts them into a
common score
Who introduced
Factor analysis was developed by the British psychologist Charles Spearman in the early 20th
century as a technique for analyzing intelligence structures.
Purpose of Factor Analysis
The purpose of factor analysis is to reduce many individual items into a fewer number of
dimensions.
It is the most common method which the researchers use. Also, it extracts the maximum variance
and put them into the first factor. Subsequently, it removes the variance explained by the first factor
and extracts the second factor. Moreover, it goes on until the last factor.
It’s the second most favoured technique by researchers. Also, it extracts common variance and put
them into factors. Furthermore, this technique doesn’t include the variance of all variables and is
used in SEM.
Exploratory factor analysis (EFA) is a classical formal measurement model that is used when
both observed and latent variables are assumed to be measured at the interval level.
It is one of the most widely used models of grey system theory. GRA uses a specific concept
of information.
The theory has been applied in various fields of engineering and management. Initially, the grey
method was adapted to effectively study air pollution [4] and subsequently used to investigate the
nonlinear multiple-dimensional model of the socio-economic activities’ impact on the city air
pollution.[5] It has also been used to study the research output and growth of countries.
5.RIDIT Analysis
What is Ridit analysis?
RIDIT (Relative to an Identified Distribution) is a very efficient technique that can be used to
examine the Likert scale data. The outcomes from the RIDIT analysis can be used to arrange
Likert scale items either in an ascending or in a descending order based on importance.
Bross (1958) developed the ridit analysis for handling of the ordinal data
RIDIT analysis was used to determine the important attributes from both expert opinion
and user perception data. RIDIT analysis is a simple tool which is closely related to
distribution free statistical methods and is used to interpret the results of ordinal
data meaningfully
6.Data Envelopment Analysis
DEA was initiated by Charnes Cooper and Rhodes in 1978 in their seminal paper Chames et
al. (1978)
Definition
An artificial neural network is an attempt to simulate the network of neurons that make up a
human brain so that the computer will be able to learn things and make decisions in a
humanlike manner. ANNs are created by programming regular computers to behave as though
they are interconnected brain cells
There are two main types of conjoint analysis: Choice-based Conjoint (CBC) Analysis and
Adaptive Conjoint Analysis (ACA).
9. Canonical Correlation
A canonical correlation is a correlation between two canonical or latent types of variables. In
canonical correlation, one variable is an independent variable and the other variable is a
dependent variable.
This might be regarded as the simplest form of a latent trait model. Instead of determining the
correlation between observed variables (e.g., test scores), a canonical correlation (CR) calculates
the correlation between (a) the common latent trait(s) in a given set of two or more observed
variables and (b) the common latent traits(s) in another set of two or more observed variables. It
is like a multiple R in which both the independent variables and the dependent variables consist
of a number of different measurements. However, the C divides the common variance between
the two sets of variables into orthogonal (i.e., uncorrelated) components, called canonical
variates.
10. Co-integration
. Nobel laureates Robert Engle and Clive Granger introduced the concept of co-integration in
1987
What is Co-integration?
Co-integration is a statistical method used to test the correlation between two or more non-
stationary time series in the long run or for a specified period. The method helps identify long-
run parameters or equilibrium for two or more variables.
Why do we use co-integration test
Co-integration is a statistical method used to test the correlation between two or more non-
stationary time series in the long run or for a specified period. The method helps identify long-
run parameters or equilibrium for two or more variables
Analytic Hierarchy Process: A decision making method that compares multiple alternatives,
each with several criteria to help select the best option. Pairwise Comparison: The process of
comparing criteria two at a time.
It is currently used in decision making for complex scenarios, where people work together to
make decisions when human perceptions, judgments, and consequences have long-term
repercussions
12. Analytic Network Process
Analytic network process (ANP) is a mathematical theory, developed by Thomas L. Saaty, to
identify decision-making priorities of multiple variables without establishing one-way
hierarchical relationship among decision levels, which has been successfully applied in various
areas
13. Interpretive Ranking Process
Interpretive ranking process (IRP) is a multi-criteria decision making method based on
paired comparison in an interpretive manner. Due to paired comparisons, the number of
interpretations to be made for n ranking variables are n(n-1)/2 to establish dominance with
respect to each reference variable or criterion.
14. Decision Tree Analysis
Decision tree analysis involves visually outlining the potential outcomes, costs, and
consequences of a complex decision. These trees are particularly helpful for analyzing
quantitative data and making a decision based on numbers
Five Steps of Decision Tree Analysis
Define the problem area for which decision making is necessary. Draw a decision tree with all
possible solutions and their consequences. Input relevant variables with their respective
probability values. Determine and allocate payoffs for each possible outcome
What is the purpose of decision tree analysis?
Decision trees help you to evaluate your options. Decision Trees are excellent tools for helping
you to choose between several courses of action.
15. Data Mining
Data mining is the process of finding anomalies, patterns and correlations within large data
sets to predict outcomes. Using a broad range of techniques, you can use this information to
increase revenues, cut costs, improve customer relationships, reduce risks and more.
Four Stages Of Data Mining
(1) data acquisition; (2) data cleaning, preparation, and transformation; (3) data
analysis, modeling, classification, and forecasting; and (4) reports.
16. Cluster Analysis
Cluster analysis definition.
Cluster analysis is a statistical method for processing data. It works by organizing items into
groups, or clusters, on the basis of how closely associated they are.
Streaming services often use clustering analysis to identify viewers who have similar
behavior. For example, a streaming service may collect the following data about individuals:
Minutes watched per day. Total viewing sessions per week.23-Aug-2021
It is a multivariate statistical tool that was first proposed in 1935 by Herman Otto Hartley.
Hartley wrote a paper on contingency tables that paved the way for Jean-Paul Benzécri to
develop the analysis technique in the 1960s that we know today
Limitations
As its name implies, Granger causality is not necessarily true causality. In fact, the Granger-
causality tests fulfill only the Humean definition of causality that identifies the cause-effect
relations with constant conjunctions
LP is useful for the business as the decision-maker can obtain an optimum solution by
considering the effective use of scarce resources
It is a structured technique and helps in making informed data-driven decisions
It provides alternate solutions which the decision-maker can analyze further and finalize
based on subjective matters that also need to be considered
LP can also be used for changing situations. Changed constraints or additional constraints
can be included in the model to get revised output.
In finance, decisions have to be taken on where the money should be spent and from
where the company needs to get the money from to ensure that they maximize the returns
keeping the risks under acceptable control. Buying and selling bonds, managing
corporate finances, making financial decisions.
32 .Wavelet Analysis
Wavelet analysis is an alternative to windowed Fourier transforms that also yields a
two-dimensional plot showing strengths of variations as a function of both period
(or frequency) and time
A wavelet is a wave-like oscillation with an amplitude that begins at zero, increases or
decreases, and then returns to zero one or more times
Software
M-Plus
What is M-plus?
M-plus is a highly flexible, powerful statistical analysis software program that can fit an
extensive variety of statistical models using one of many estimators available. Perhaps its
greatest strengths are in its capabilities to model latent variables, both continuous and
categorical, which underlie its flexibility. Among the many models M-plus can fit are:
Entering data in the panel work files of E-Views for data analysis and interpreting the
outcome
Primavera
Primavera is an enterprise project portfolio management software. It includes project
different industries globally. It provides sophisticated solutions to plan, manage and execute
projects of any size and scale. It increases project efficiency significantly by identifying
LINGO
LINGO is a software program used for solving simultaneous linear and nonlinear
equations and inequalities. However, another product named Lingo is the scripting language
allows you to embed LINGO in your own application. LINDO API does not have a traditional
LINDO
LINDO (Linear, Interactive, and Discrete Optimizer) is a software package for linear
worldwide to maximize profit and minimize cost on decisions involving production planning,
Adanco
ADANCO (“advanced analysis of composites”) is a software with graphical user
interface for variance-based structural equation modeling (SEM)[1] using among others
the partial least squares (PLS) method[2][3] including consistent PLS.[4][5] The software can
be used in empirical research to analyze primary or secondary data and test theories that
consist of relationships between scientific constructs. ADANCO runs
on Windows and macOS operating systems. ADANCO (“advanced analysis of
composites”) is a user-friendly software for variance-based structural equation modeling.
KH-Coder
KH Coder is an open source software for computer assisted qualitative data analysis,
particularly quantitative content analysis and text mining. It can be also used
for computational linguistics. It supports processing and etymological information of text
in several languages, such as Japanese, English, French, German, Italian, Portuguese and
Spanish. Specifically, it can contribute factual examination co-event system hub
structure, computerized arranging guide, multidimensional scaling and comparative
calculations
DEAP
Distributed Evolutionary Algorithms in Python (DEAP) is an evolutionary
computation framework for rapid prototyping and testing of ideas.[2][3][4] It incorporates
the data structures and tools required to implement most common evolutionary
computation techniques such as genetic algorithm, genetic programming, evolution
strategies, particle swarm optimization, differential evolution, traffic
flow and estimation of distribution algorithm. It is developed at Université Laval since
[5]
2009.
Lisrel
What is LISREL used for?
LISREL is statistical software that is used for structural regression modeling. Structural
equation models are the system of linear equations. LISREL is the simultaneous estimation of
the structural model and measurement model. Structural model assumes that all variables are
measured without error. LISREL can be used to fit:
measurement models,
structural equation models based on continuous or ordinal data,
multilevel models for continuous and categorical data using a number of link functions,
generalized linear models based on complex survey data.
Mendeley
What is Mendeley software used for?
Mendeley Reference Manager is a free web and desktop reference management
application. It helps you simplify your reference management workflow so you can focus
on achieving your goals. With Mendeley Reference Manager you can: Store, organize
and search all your references from just one library.
What kind of software is Mendeley?
Mendeley: A free research management tool for desktop and web.
op 10 Reference Management Software
Mendeley.
EndNote.
ReadCube Papers.
EasyBib.com.
Zotero.
Article Galaxy Enterprise.
Visio
What is Visio software used for?
With Visio on your PC or mobile device, you can: Organize complex ideas visually. Get
started with hundreds of templates, including flowcharts, timelines, floor plans, and more.
Add and connect shapes, text, and pictures to show relationships in your data.
Edraw Max
Edraw Max is a 2D business technical diagramming software which helps
create flowcharts, organizational charts, mind map,[1] network diagrams, floor
plans, workflow diagrams, business charts, and engineering diagrams. The current
version, Edraw Max 11.5.0 was released in November 2021 for Microsoft
Windows, macOS, and Linux. Edraw Max is a Visio-like[2] diagramming tool
Wharp PLS
It is a software with graphical user interface for variance-based and factor-
based structural equation modeling (SEM) using the partial least squares and factor-based
methods.[1][2] The software can be used in empirical research to analyse collected data
(e.g., from questionnaire surveys) and test hypothesized relationships. Since it runs on the
MATLAB Compiler Runtime, it does not require the MATLAB software development
application to be installed; and can be installed and used on various operating systems in
addition to Windows, with virtual installations.
Matlab
MATLAB is a programming platform designed specifically for engineers and
®
scientists to analyze and design systems and products that transform our world. The
heart of MATLAB is the MATLAB language, a matrix-based language allowing the most
natural expression of computational mathematics. MATLAB (an abbreviation of
"MATrix LABoratory"[22]) is a proprietary multi-paradigm programming
language and numeric computing environment developed by MathWorks. MATLAB
allows matrix manipulations, plotting of functions and data, implementation
of algorithms, creation of user interfaces, and interfacing with programs written in other
languages
SPSS
SPSS Statistics is a statistical software suite developed by IBM for data management,
advanced analytics, multivariate analysis, business intelligence, and criminal
investigation. Long produced by SPSS Inc., it was acquired by IBM in 2009. Current
versions (post 2015) have the brand name: IBM SPSS Statistics.
The software name originally stood for Statistical Package for the Social
Sciences (SPSS),[3] reflecting the original market, then later changed to Statistical
Product and Service Solutions.[4][5]
Is SPSS still used?
SPSS is a widely used program for statistical analysis in social science.
What is SPSS data set?
This is a manufactured data set that was created to provide suitable data for the
demonstration of statistical techniques such as t-test for repeated measures, and one-way
ANOVA for repeated measures.
AMOS
AMOS is statistical software and it stands for analysis of a moment structures. AMOS
is an added SPSS module, and is specially used for Structural Equation Modeling, path
analysis, and confirmatory factor analysis. It is also known as analysis of covariance or
causal modeling software.
STATA
Stata was initially developed by Computing Resource Center in California and the first
version was released in 1985.[6] In 1993, the company moved to College Station, TX and
was renamed Stata Corporation, now known as StataCorp.[1] A major release in 2003
included a new graphics system and dialog boxes for all commands.[6] Since then, a new
version has been released once every two years.[7] The current version is Stata 17,
released in April 2021.[8]
Used by researchers for more than 30 years, Stata provides everything you need for
data science—data manipulation, visualization, statistics, and automated reporting.
.NVivo
NVivo is a software program used for qualitative and mixed-methods research.
Specifically, it is used for the analysis of unstructured text, audio, video, and image data,
including (but not limited to) interviews, focus groups, surveys, social media, and journal
articles. NVivo is used predominantly
by academic, government, health and commercial researchers across a diverse range of
fields, including social sciences such
as anthropology, psychology, communication, sociology, as well as fields such
as forensics, tourism, criminology and marketing
.SmartPLS
SmartPLS is a software with graphical user interface for variance-based structural
equation modeling (SEM) using the partial least squares (PLS) path modeling method.