Insights about Statistical Analysis

In order to undertake a theoretical research, it is required to test the hypotheses with real world data. Depending upon the data and the research objectives, nature of statistical analysis varies. Time-series analysis is required for a longitudinal study, whereas panel based survey is required for cross-sectional study. Now, statistical methodologies differ considering these two cases, like vector error correction models are used for the first case, whereas panel regression tests are used for the latter one. Having the appropriate knowledge for the choice of statistical technique is a must before you begin with data analysis section.

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