Learn what analysis of variance (ANOVA) is, how it works, and when to use it. See how it helps compare means across multiple data groups in statistics and research.

Example 1: A coin is flipped. Random variable X takes the value 1 if the coin lands heads, and X takes the value 0 if the coin shows tails. Example 2: Three balls are drawn without replacement from a ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...