ANOVA (Analysis of Variance)

We explain a statistical method to compare more than two groups.
🎓️ When comparing the means of two independent groups we use the well-known t-test.
❓️But what to do if we have more than two groups?
Statistical Method:
📊 The generalization of the t-test for three or more groups is the ANOVA (Analysis of Variance).
📊 In its simplest version the ANOVA measures the influence of one categorical variable on the means of the groups, but we can also include more factors.
📊When considering two or more factors, it is important to take possible interactions between the factors into account. This can also be integrated into the model.
📊 When also including continuous covariates, we use an ANCOVA (Analysis of Covariance).
Keep in mind:
⚠️ Since the ANOVA is a generalization of the t-test, we have the same assumptions: independence of the groups, homogeneity of variance and normal distributed data.
🔜 In our next post you will learn which models you can use in the scenario of repeated measurements, since in this case the independence assumption is not fulfilled.
📢 Stay tuned and continue building statistical confidence for market access.