Your ideas for applying this method to solve daily problems in life
Multivariate analysis is a set of statistical techniques used to analyze data that involves more than one outcome variable at a time.
In essence, it helps us understand relationships and patterns within complex datasets.
Common Multivariate Analysis Methods
Multiple Regression Analysis: Used to predict the value of one dependent variable based on the values of several independent variables.
- Example: Predicting house prices based on size, location, age, and number of bedrooms.
Analysis of Variance (ANOVA) and Multivariate Analysis of Variance (MANOVA): Used to compare means of groups when there are one or more dependent variables.
- Example: Comparing the effectiveness of different teaching methods on student test scores (multiple dependent variables like math, science, and English scores).
Factor Analysis: Used to reduce a large number of variables into a smaller number of underlying factors.
- Example: Identifying key factors that influence customer satisfaction from a survey with many questions.
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https://careerfoundry.com/en/blog/data-analytics/multivariate-analysis/
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