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Stat tools covers the most commonly used statistical procedures, and provides unprecedented capabilities for addition of new custom analyses. Stat tools provides its own calculations and replaces Excel’s built-in functions. The accuracy of Excel’s built-in statistics has always been questioned, therefore Stat tools doesn’t use them. All the Stat tools functions are considered to be true Excel functions and they behave exactly as native Excel functions do. Stat tools cover over 30 wide ranging statistical procedures plus 9 built –in data utilities which include forecasts, time-series, descriptive statistics, normality tests, group comparisons, correlation, regression analysis, quality control, non-parametric tests and more. Stat tools feature “hot-linked statistical calculations. There is no need of manually re-running your analyses. The detail description and analysis of Stat tools is given by Stat Tools Assignment Help Online.
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Stattools provides you various methods for forecasting Time-series variable. You can also deseasonalize the data first, and by using the ratio-to-method-averages method and a multiplicative seasonality model. Then you have to use a forecasting method to forecast your deseasonalized data and lastly reseasonalize the forecasts to return to original units. To Get Better Forecasting follow Stat Tools Assignment Help Online.
- Regression analysis
For each of the analyses, the following outputs are obtained: summary measures of each equation run, ANOVA table for each regression, a table of estimated regression coefficient and other statistics. In addition to this, Stattools provides you the option of creating two new variables: -the fitted values and residuals. Plus, you would be able to create a number of diagnostic.
- Quality Control Features
This process produces control charts that enable you to see whether a process is statistical or not. Each of the procedures takes the time series data and then plots them in a control chart. This enables you to see whether the data stays within the control limits on the chart. You can also determine whether the non-random behavior is present, such as long runs present above or below the centerline. Each of the procedures gives the option of using all the data or only part of the data for constructing the chart. The charts can be learnt from Stat Tools Assignment Help Online.
- Non-parametric Tests
Non-parametric tests are the statistical procedures that can be used to make successful inferences when the data available is little. They are found to be more robust than many of the widely known parametric tests. Non-parametric tests don’t always require the parametric assumptions such as normality, or generalized assumptions regarding the underlying distribution. In most of the cases, Non-parametric tests are much easier to apply and provide clearer interpretation than the traditional parametric tests. The various techniques can be better understood and necessary materials can be provided by Stat Tools Assignment Help Online.
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