Latent Variable Path Analysis

Latent Variable Path Analysis

Latent Variable Path Analysis is one of the popular statistical methodologies that is extensively used by quantitative social scientists. The popularity of this statistical technique is confirmed by the creation of a dedicated scholarly journal and existence of SEMNET (a very popular and active electronic discussion list)¬†that focuses on Latent Variable Path Analysis and related issues. Latent Variable Path Analysis is a widely used statistical methodology for theoretical and applied […]

Multivariate Analysis of Variance

Multivariate Analysis of Variance

Let us first look at an example that will help us understand the application of MANOVA or Multivariate Analysis of Variance. Suppose we have a hypothesis that a new statistical training style (say developed by PIE TUTORS) is better than the standard training method (say that is common in the industry). In order to support this claim, we might want to look at the effect of our new statistical training […]

Machine Learning

Machine Learning

Machine Learning can be thought of as a set of algorithms that uses advanced statistical techniques for classification, prediction, and segmentation. Let us look at two of the commonly used Machine Learning techniques: Support Vector Machines (SVM), and Naive Bayes. Support Vector Machines (SVM) Support Vector Machines can be used for both prediction and classification problems. This method constructs decision boundaries (linear/non-linear). Support Vector Machines are very flexible in handling […]

Discriminant Function Analysis

Discriminant Function Analysis

One of the best statistical techniques to understand which variables discriminate between two or more naturally occurring groups is Discriminant Function Analysis. For example, a smart phone company may want to investigate which variables discriminate between customer who decide to (1) buy their product or (2) buy their competitor’s product. For that purpose the company will employ a market research company that will collect data on numerous variables prior to […]

Conjoint Analysis

Conjoint Analysis

In simple words, I can say that conjoint analysis is a market research technique that gives insight into how people make complex choices. We all have to make lot of choices every day and this often requires trade-offs that we hardly realize. Many simple decisions, such as “what type of tooth paste to buy?’ or “Which school should you admit your kid too”, all such questions comes with multiple choices […]