Cattell Used a Statistical Technique Called Factor Analysis to Reduce

question 577

Multiple Choice

Cattell used a statistical technique called factor analysis to reduce a large number of visible traits into 16 __________ traits, or factors.

• A)surface
• B)source
• C)common
• D)cardinal

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Definitions:

Perfect Complements

Goods that are always used together in fixed proportions, such that an increase in the consumption of one necessitates an equal percentage increase in the other.

Indifference Curves

Graphical representations in economics illustrating different combinations of goods that provide an individual with equal levels of utility.

Optimal Consumption

A state where consumers allocate their income in a way that maximizes their utility, given their preferences and the prices of goods and services.

Hot Dog Buns

Bread specifically designed to hold a hot dog, usually served as part of a meal or snack.