Application of Statistical Tools for Data Analysis: Relationship Technique
Keywords:Descriptive Statistics, Inferential Statistics, Dependent Relationship, Interdependent Relationship, Correlation, Structural Equation Modeling(SEM)
Statistical analysis is divided into descriptive and inferential statistical analyses. Whereas descriptive statistics is interested in data description, the interest of inferential statistics is making inferences and extrapolations from data. In application of statistical techniques, one needs to determine the type of relationship that exists. If the data variables can be divided into dependent and independent classification, indicating whether dependence or interdependence techniques should be utilized. Dependent relationship is when variables are divided into dependent and independent variables, where dependent variables depend on independent variables. In interdependence relationship, variables are not divided into dependent and independent, rather they are analyzed simultaneously to establish their underlying relationships. Canonical correlation, Multivariate analysis of variance, Analysis of variance, Multiple discriminant analysis, Multiple regression, Conjoint analysis are all dependent techniques. Factor analysis, Cluster analysis, Correspondence analysis are interdependent techniques. SEM can be thought of being both dependent and interdependent techniques, mostly because its foundation lies in two familiar multivariate techniques: factor analysis and multiple regression analysis, and its ability to analyze multiple relationships simultaneously.
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