DEFINITION of 'Balanced ANOVA'
A statistical test used to determine whether or not different groups have different means. An ANOVA analysis is typically applied to a set of data in which sample sizes are kept equal for each treatment combination.
Balanced ANOVA tests are often done with computer softwares due to the complexity of mathematical calculations. It does not work well in experiments in which missing or extra observations are present.
Next Up
BREAKING DOWN 'Balanced ANOVA'
ANOVA is used to test the differences between means for statistical significance. A oneway ANOVA test checks for significance for one factor only, while a twoway ANOVA test analyzes the effects of two factors simultaneously. Twoway ANOVA tests are the most useful when the replicate examples are equal, or "balanced."
RELATED TERMS

TwoWay ANOVA
A statistical test used to determine the effect of two nominal ... 
ThreeWay ANOVA
A statistical test used to determine the effect of three nominal ... 
Analysis Of Variance  ANOVA
A statistical analysis tool that separates the total variability ... 
Analysis Of Variances  ANOVA
An analysis of the variation between all of the variables used ... 
Scheffe's Test
A statistical test that is used to make unplanned comparisons, ... 
TTest
A statistical examination of two population means. A twosample ...
Related Articles

Investing
Understanding Statistics
Statistics provide the means to analyze data and then summarize it into a numerical form. 
Investing
How Does Sampling Work?
Sampling is a term used in statistics that describes methods of selecting a predefined representative number of data from a larger data population. 
Investing
Explaining Standard Error
Standard error is a statistical term that measures the accuracy with which a sample represents a population. 
Investing
What is Systematic Sampling?
Systematic sampling is similar to random sampling, but it uses a pattern for the selection of the sample. 
Investing
What is a Representative Sample?
In statistics, a representative sample accurately represents the makeup of various subgroups in an entire data pool. 
Investing
What is Quantitative Analysis?
Quantitative analysis refers to the use of mathematical computations to analyze markets and investments. 
Personal Finance
Jump Start Your Financial Career With The BAT
The BAT is quickly becoming known in the job market as a tool to provide a window into the minds of those seeking financial jobs. 
Investing
What's a TTest?
TTest is a term from statistics that allows for the comparison of two data populations and their means. The test is used to see if the two sets of data are significantly different from one another. ... 
Financial Advisor
How Advisors Can Hire Successfully and Smartly
The hiring process can be fraught with ups and downs for financial advisor firms. Here are some tools they can use to help find the right candidate. 
Trading
The Vital Importance of Choosing The Right Day Trading Software
Software has made day trading quick and automaticall the more reason to be as painstaking as possible when choosing the right one for your needs.
RELATED FAQS

What's the difference between a representative sample and a random sample?
Explore the differences between representative samples and random samples, and discover how they are often used in tandem ... Read Answer >> 
What percentage of the population do you need in a representative sample?
Learn about representative samples and how they are used in conjunction with other strategies to create useful data with ... Read Answer >> 
How can a representative sample lead to sampling bias?
Learn how using representative samples alone is not enough to make sampling bias negligible and why elements such as randomization ... Read Answer >> 
What's the difference between a representative sample and a convenience sample?
Learn the difference between convenience sampling and representative sampling and the advantages and disadvantages of each ... Read Answer >> 
What are the benefits of financial sampling?
Learn more about how financial sampling is used to determine whether or not inaccurate or fraudulent information exists in ... Read Answer >> 
What are some common financial sampling methods?
Read about the differences between various common financial sampling methods for financial analysts, statisticians, marketers ... Read Answer >>