Univariate Bivariate Multivariate

Question

What is the difference between the terms univariate, bivariate and multivariate?

Answer 1

Univariate: These analyses are descriptive statistical analysis techniques which can be differentiated based on the number of variables involved at a given point of time. For example, the pie charts of sales based on territory involve only one variable and can the analysis can be referred to as a univariate analysis.

Bivariate: This analysis attempts to understand the difference between two variables at a time as in a scatterplot. For example, analyzing the volume of sale and a spending can be considered as an example of bivariate analysis.

Multivariate: This analysis deals with the study of more than two variables to understand the effect of variables on the responses.