FACTOR ANALYSES Meaning and
Definition
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Factor analysis is a statistical technique used to analyze the relationships between observed variables in order to identify underlying dimensions, or factors, that explain the pattern of correlations among the variables. It is a multivariate analysis method that aims to reduce the complexity of a dataset by discovering the latent variables that account for the observed variance.
Factor analysis assumes that observed variables are influenced by a smaller number of unobserved, latent factors. These factors are abstract constructs that represent the common elements shared by the observed variables. By identifying and understanding these latent factors, researchers can gain insights into the underlying structure of the data and potentially explain the relationships among the variables.
The analysis begins by calculating a correlation matrix of the observed variables. Then, the technique employs matrix algebra and eigenvalue decomposition to identify the factors that best account for the observed variances and covariances. The results of factor analysis are typically presented as factor loadings, which indicate the strength and direction of the relationship between each observed variable and each factor.
Factor analysis helps researchers understand the underlying dimensions that influence the observed variables and can be used to create constructs or composite scores for subsequent analyses. It is widely used in various fields, including psychology, sociology, market research, and finance, to uncover and interpret the latent variables that govern the patterns observed in the data.
Common Misspellings for FACTOR ANALYSES
- dactor analyses
- cactor analyses
- vactor analyses
- gactor analyses
- tactor analyses
- ractor analyses
- fzctor analyses
- fsctor analyses
- fwctor analyses
- fqctor analyses
- faxtor analyses
- favtor analyses
- faftor analyses
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- facror analyses
- facfor analyses
- facgor analyses
- facyor analyses
- fac6or analyses
- fac5or analyses
Etymology of FACTOR ANALYSES
The word "Factor Analysis" has its etymology derived from the Latin word "factorem" which means "doer" or "maker". In this context, "factor" refers to the variables or components that influence a particular phenomenon. "Analysis" refers to the process of examining and evaluating these factors to understand their underlying structure and relationships.
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