Well, it all depends upon your site. You might actually have a lot better luck just using one of the many Google analytics plug-ins that are available for WordPress.
I don’t know why I didn’t think of that earlier when I first responded; it should be a lot easier than embedding the code in your templates.
Check via Google or on the WordPress Extensions site (maybe "Google Analytics For WordPRess"?), and you should find something you like that will make life a lot easier.