http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
ANOVA, simple linear regression, and extreme observations
In the design of the gender and personal finance research project, savings was quickly put upfront as a variable to be studied. In the middle of defining several hypotheses within a robust research framework, we decided to first examine whether there is a difference in savings between men and women in Colombia. We set up the question and proceeded to answer it using analysis of variance and simple linear regression. Furthermore, the link between both methodologies is easily shown in applied research and reminded us of implementing simple, yet robust, methods in the exploratory stages of a research project. Unfeasible observations in the data suggested examining the question after trimming extreme values. The preliminary results rendered contradictory outcomes between savings and savings in terms of income; after trimming, a consistent answer emerged. The process led to a thorough understanding of both methodologies, a proper definition of the dependent variable, and dealing with extreme observations in the preliminary stage of academic research.
Learning Outcomes -- Project Overview and Context -- Research Design -- Method in Action -- Practical Lessons Learned -- Conclusions -- Classroom Discussion Questions -- Multiple Choice Quiz Questions -- Further Reading -- Web Resources.