Discriminant Analysis - Things You Must Know About It
Discriminant analysis is a statistical method mostly use in market research which aims to classify observations into different categories or groups. Stated in another way, discriminant analysis is important as it helps researchers in assigning objects to a group among a number of known groups. As a matter of course, it is simply a statistical technique that classifies observations into groups based on scores of one or more quantitative as well as predictable variables. For instance, if a doctor wants to classify a patient into low or high-risk groups for stroke, then the best tool that will be extremely useful for the purpose is discriminant analysis. This analysis will help the doctor classify patients into a low and high-risk group based on personal attributes, such as body weight, cholesterol, l