Definition of Multivariate data:
Involving two or more variable quantities.
Used by financial analysts to estimate profits, cash flow, risk, and even develop new product ideas, based on the types of variables collected. The analysis of these statistics, which consist of a set of random variables that have multiple dimensions is complex and sometimes requires special software systems to aid in the analysis.
How to use Multivariate data in a sentence?
- In multivariate analyses, dummy variables are used to control for gender.
Meaning of Multivariate data & Multivariate data Definition