What is the primary goal of factor analysis?
Understand the Problem
The question is asking about the main objective of factor analysis, a statistical method used to identify relationships between variables and reduce data complexity by grouping related variables into factors.
Answer
To explain correlations between observed variables using latent factors.
The primary goal of factor analysis is to explain correlations between observed variables using a few unobservable variables, known as factors or latent variables.
Answer for screen readers
The primary goal of factor analysis is to explain correlations between observed variables using a few unobservable variables, known as factors or latent variables.
More Information
Factor analysis is often used to simplify complex data by identifying underlying relationships between variables, providing a clearer understanding of the data structure.
Tips
A common mistake is confusing factor analysis with principal component analysis. Though related, they have different purposes and assumptions.
Sources
- What is Factor Analysis? - ScienceDirect Topic - sciencedirect.com
- Understanding Factor Analysis: A Comprehensive Overview - statisticssolutions.com
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