Explain Factor Analysis in Research

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The Answer is Factor analysis is a statistical method used in research to identify underlying relationships between observed variables. It is often used to explore the structure of a set of variables and to identify underlying factors that may be influencing the observed data.

In factor analysis, the goal is to identify a smaller number of unobserved variables, known as factors, that can explain the patterns of correlations among the observed variables. These factors are used to summarize the information contained in the observed variables and can help researchers understand the underlying structure of the data.

Factor analysis can be used in various fields such as psychology, sociology, economics, and market research to identify underlying dimensions or constructs that may not be directly observable. It can also be used to reduce the dimensionality of a dataset, making it easier to interpret and analyze.

Overall, factor analysis is a valuable tool in research for uncovering the underlying structure of data and identifying the key factors that drive the relationships among observed variables.

Explain Factor Analysis in Research

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Explain Factor Analysis in Research

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Correct Answer:
Answered by ExamLex AI