ANOVA - short for Analysis Of Variance - tests if 3(+) population means are all equal or not. A firm needs have proper investment skills in order to grow and prosper. Be careful of type-III tests: For a traditional multifactor ANOVA model with interactions, for example, these tests will normally only be sensible when using contrasts that, for different terms, are orthogonal in the row-basis of the model, such as those produced by contr.sum, contr.poly, or contr.helmert, but not by the default contr.treatment. The Analysis Of Variance, popularly known as the ANOVA, is a statistical test that can be used in cases where there are more than two groups. The purpose of Tukey's HSD test is to determine which groups in the sample differ. While ANOVA can tell the researcher whether groups in the sample differ, it cannot tell the researcher which groups differ.Tukey's HSD can clarify to the researcher which groups among the sample in specific have significant differences. The purpose of an analysis of variance is as a statistical means to analyze the differences between groups. ANOVA for Regression Analysis of Variance (ANOVA) consists of calculations that provide information about levels of variability within a regression model and form a basis for tests of significance. Purpose of one-way ANOVA The one-way ANOVA is used to determine whether there are any significant differences between the means of several independent groups. The purpose of an ANOVA is to test whether the means for two or more groups are taken from the same sampling distribution. In statistics, one-way analysis of variance (abbreviated one-way ANOVA) is a technique that can be used to compare means of two or more samples (using the F distribution).This technique can be used only for numerical response data, the "Y", usually one variable, and numerical or (usually) categorical input data, the "X", always one variable, hence "one-way". Two-Way ANOVA: A statistical test used to determine the effect of two nominal predictor variables on a continuous outcome variable. Warning. The basic regression line concept, DATA = FIT + RESIDUAL, is rewritten as follows: (y i - ) = (i - ) + (y i - i). And the management has to take better financial decisions in order to achieve increment in yearly turnovers of the firm. It is used widely in mathematics and science as well as some marketing groups. Multivariate Analysis of Variance (MANOVA): I. Theory Introduction The purpose of a t test is to assess the likelihood that the means for two groups are sampled from the same sampling distribution of means. This easy introduction gently walks you through its basics such as sums …