Quantitative Techniques
- Summary Statistics: Another relevant measure is mean, median and mode, which serve the purpose of summarizing the data.
- Correlation Analysis: It gauges the level of influence and the direction of one variable’s impact on another variable. This measure is quantified by the linear correlation coefficient, which may range from -1 with a maximum positive value of 1.
Types of Statistical Data Analysis
Statistics data analysis is a class of analysis that includes different techniques and methods for collection, data analysis, interpretation and presentation of data. Knowing the approach to data analysis is one of the crucial aspects that allows drawing a meaningful conclusion. In this article, the most fundamental types of statistical data analysis will be described. The authors will explain all the terms and concepts easily.
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