Analysing quantitative data
This chapter introduces the statistical tools that can be used to analyse raw data collected. Application of statistical analysis enables us to 'make sense of the data'. It presents an elementary regression analysis to show how it tests hypotheses and associations between variables using time-series, cross-section and panel data. The chapter analyses the relationship between variables. It introduces regression analysis and data reduction techniques for analysis. The measures of variation are commonly known as the measures of spread and consider the dispersion or variability in the variable; they are the variance, standard deviation, range, lower quartile, upper quartile and interquartile. The range can be influenced by a single extreme value in the set and can be misleading in analysing the distribution of the data. A better measure is the interquartile range, which is the difference between the lower quartile and the upper quartile.