Sure thing. Probably the best place to add the little javascript snippet they provide is at the bottom of /themes/X/footer.php where X is the name of the theme you use
| Code: |
$html .= "</td></tr></table>";
echo footertable("100%","center",$html);
unset($html);
?>
<-- google analytics snippet could go here ->
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Since these are typically javascript, which is processed by the viewers computer, you'll want them as near the bottom of the web page as possible, otherwise they'll make the script and your website appear slow
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