Statistical Analysis Tool

• By Admin
• October 15, 2014
• Comments Off on Statistical Analysis Tool

Another very powerful tool in Risk Simulator is the Statistical Analysis tool, which determines the statistical properties of the data. The diagnostics run include checking the data for various statistical properties, from basic descriptive statistics to testing for and calibrating the stochastic properties of the data.

Procedure

• Open the example model (Risk Simulator | Example Models | Statistical Analysis), go to the Data worksheet, and select the data including the variable names (Figure 1).
• Click on Risk Simulator | Tools | Statistical Analysis (Figure 1).
• Check the data type, that is, whether the data selected are from a single variable or multiple variables arranged in rows. In our example, we assume that the data areas selected are from multiple variables. Click OK when finished.
• Choose the statistical tests you wish to perform. The suggestion (and by default) is to choose all the tests. Click OK when finished (Figure 2). Spend some time going through the reports generated to get a better understanding of the statistical tests performed (sample reports are shown in Figures 3 through 6).