Intro to Econometrics
ANOVA, or Analysis of Variance, is a statistical method used to test differences between two or more group means. It helps determine if at least one group mean is statistically different from the others, providing insights into how different variables may influence a dependent variable. This technique is particularly useful in experiments where researchers want to understand the effect of categorical independent variables on a continuous dependent variable, and it can be easily implemented in various statistical software packages for data analysis.
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