- analysis of variance
- = ANOVA; variance analysis1) A commonly used method for examining the statistically significant differences between the means of two or more populations In its simplest form (one-way analysis of variance), it involves only one dependent variable (metric measurement level) and one or more independent variables (non-metric). For example, a researcher may be interested in establishing if there is a statistically significant difference in the average amount spent on alcohol per week between two samples of population (say, male and female). Here, the dependent variable is the amount spent and the independent variable is the gender of the participants.2) In standard costing and budgetary control, the analysis of variances in order to seek their causes. The total profit variance or production cost variance is analysed into sub-variances based on such factors as direct labour, direct materials, fixed and variable overheads, and sales in order to indicate the major reasons for the difference between budgeted figures and actual figures.
Big dictionary of business and management. 2014.
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analysis of variance — n analysis of variation in an experimental outcome and esp. of a statistical variance in order to determine the contributions of given factors or variables to the variance * * * (ANOVA) a statistical method for analyzing the effects of each of… … Medical dictionary
Analysis of variance — A*nal y*sis of variance, n. (Statistics) a statistical technique by which the results of an observation or experiment are analyzed to determine the relative contributions of the different possible causative factors or variables to the outcome.… … The Collaborative International Dictionary of English
Analysis of variance — In statistics, analysis of variance (ANOVA) is a collection of statistical models, and their associated procedures, in which the observed variance in a particular variable is partitioned into components attributable to different sources of… … Wikipedia
analysis of variance — ANOVA; = variance analysis In standard costing and budgetary control, the analysis of variances in order to seek their causes. The total profit variance or production cost variance is analysed into sub variances to indicate the major reasons for… … Accounting dictionary
analysis of variance — noun a statistical method for making simultaneous comparisons between two or more means; a statistical method that yields values that can be tested to determine whether a significant relation exists between variables • Syn: ↑ANOVA • Topics:… … Useful english dictionary
analysis of variance — Date: 1918 analysis of variation in an experimental outcome and especially of a statistical variance in order to determine the contributions of given factors or variables to the variance … New Collegiate Dictionary
analysis of variance — Statistics. a procedure for resolving the total variance of a set of variates into component variances that are associated with defined factors affecting the variates. Also called variance analysis. [1935 40] * * * … Universalium
analysis of variance — noun A collection of statistical models, and their associated procedures, in which the observed variance is partitioned into components due to different explanatory variables. Syn: ANOVA … Wiktionary
Analysis of Variance — (ANOVA) Tool used in statistics to apportion observed variance into probable causes, e.g. when used to determine the significance of variances between measurable items in different populations … Expanded glossary of Cycad terms
analysis of variance — noun a statistical procedure for resolving the total variance of a set of variates into component variances, which are associated with factors affecting the variates … Australian English dictionary