In Terms of Deciding Whether to Keep or Discard a Factor

question 64

Multiple Choice

In terms of deciding whether to keep or discard a factor based on its eigenvalue,the typical cutoff value is around

• A) 0
• B) 1
• C) 2
• D) 5

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Definitions:

Minimum-Wage Jobs

Positions that pay the lowest legal hourly rate employers are permitted to pay workers, often in unskilled or service-oriented fields.

Low-Income Cutoff

Is Statistic Canada’s term for the income threshold below which a family devotes at least 20 percent more of its income to the necessities of food, shelter, and clothing than does an average family.

Market Basket

A selected set of goods and services used to track the price level or cost of living over time.

Poverty Measure

A quantitative method used to determine the economic threshold that defines poverty, based on income, consumption, or other social indicators.