R statistical analysis tool
from class: Principles of Finance Definition The R Statistical Analysis Tool is an open-source software environment used for statistical computing and graphics. It is widely used in finance for data analysis, modeling, and visualization.
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Predict what's on your test 5 Must Know Facts For Your Next Test R is highly extensible with a vast repository of packages available via CRAN (Comprehensive R Archive Network). R is effective in handling and manipulating large datasets, making it suitable for financial analysis. It includes a wide variety of statistical techniques such as linear and nonlinear modeling, time-series analysis, classification, clustering, etc. R integrates well with other data processing tools like SQL databases and Excel. R provides advanced graphical capabilities for visualizing financial data through various types of plots and charts. Review Questions What are some key features that make R suitable for financial data analysis? How does R's extensibility benefit financial analysts? Name two types of statistical techniques that can be performed using R.
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