What Is the Difference Between Multidimensional Analysis and Statistical Analysis

question 112

Multiple Choice

What is the difference between multidimensional analysis and statistical analysis?

• A) Multidimensional analysis is a higher level of mathematical analysis than normal statistical analysis
• B) Multidimensional analysis uses a form of fuzzy logic whereas statistical analysis is objective
• C) Statistical analysis requires a step-by-step approach to data analysis; multidimensional analysis does not
• D) Statistical analysis is a mathematical approach to understanding information; multidimensional analysis is a way of viewing information from different perspectives

---

Definitions:

Money Balances

The total amount of money held by individuals or entities in the form of cash or bank deposits.

Wealth Redistribution

The transfer of income and wealth from some individuals to others by means of a social mechanism such as taxation, public services, or welfare.

Inflation

The pace at which overall costs for products and services increase, diminishing the buying power.

Paul Volcker

A former Chairman of the Federal Reserve known for his measures to combat inflation through high interest rates in the late 1970s and early 1980s.