Factor analysis, Applied Statistics

Assignment Help:

Factor analysis (FA) explains variability among observed random variables in terms of fewer unobserved random variables called factors. The observed variables are expressed in terms of linear combinations of the factors, plus "error" terms. Factor analysis originated in psychometrics, and is used in social sciences, marketing, product management, operations research, and other applied sciences that deal with large quantities of data.

Factor analysis is applied to a set of variables to discover coherent subsets that are relatively independent of one another. Variables, correlated with each other and independent of other subsets of variables are combined into factors. Factors, which are generated, are thought to be representative of the underlying processes that have created the correlations among variables.

FA can be exploratory in nature; FA is used as a tool in attempts to reduce a large set ' of variable:: to a more meaningful, smaller set of variables. As FA is sensitive to the magnitude Tolerrelations robust comparisons must be made to ensure the quality of the analysis.


Related Discussions:- Factor analysis

Liner programming , Solve the following Linear Programming Problem using S...

Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0

Purposive or judgement sampling, Purposive or Judgement Sampling Under ...

Purposive or Judgement Sampling Under this method of sampling, the choice  of selection of sample  items from the universe  depends exclusively on the judgement  of the investi

Changes in a particular plant , Scenario : Mrs dick's year 1s and 2s carrie...

Scenario : Mrs dick's year 1s and 2s carried out a level-one science investigation to explain the changes in a particular plant over a period of time.  As part of the investigation

Active control equivalence studies (aces), Active Control Equivalence Studi...

Active Control Equivalence Studies (ACES) Clinical trials the field in which the object is easy to show that the new treatment is  as good as the existing treatment. Such type

Estimate the standard deviation of the process, Estimate the standard devia...

Estimate the standard deviation of the process: Draw the X (bar) and R charts for the data given and give your comments about the process under study. Estimate the standard de

Descriptive statistics, Descriptive Statistics : Carrying out an extens...

Descriptive Statistics : Carrying out an extensive analysis the data was not a subject to ambiguity and there were no missing values.  Below are descriptive statistics that hav

Regression model, Using a random sample of 670 individuals for the populati...

Using a random sample of 670 individuals for the population of people in the workforce in 1976, we want to estimate the impact of education on wages. Let wage denote hourly wage in

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd