Session:12 F Distribution and One-Way ANOVA
Key Terms
Introductory Business Statistics | Leadership Development – Micro-Learning Session
Rice University 2020 | Michael Laverty, Colorado State University Global Chris Littel, North Carolina State University| https://openstax.org/details/books/introductory-business-statistics
- Analysis of Variance
- also referred to as ANOVA, is a method of testing whether or not the means of three or more populations are equal. The method is applicable if:
- all populations of interest are normally distributed.
- the populations have equal standard deviations.
- samples (not necessarily of the same size) are randomly and independently selected from each population.
- there is one independent variable and one dependent variable.
The test statistic for analysis of variance is the F-ratio.
- One-Way ANOVA
- a method of testing whether or not the means of three or more populations are equal; the method is applicable if:
- all populations of interest are normally distributed.
- the populations have equal standard deviations.
- samples (not necessarily of the same size) are randomly and independently selected from each population.
The test statistic for analysis of variance is the F-ratio.
- Variance
- mean of the squared deviations from the mean; the square of the standard deviation. For a set of data, a deviation can be represented as x – x–
where x is a value of the data and x–
is the sample mean. The sample variance is equal to the sum of the squares of the deviations divided by the difference of the sample size and one.