The Goal of Factor Analysis Is to Determine If the Correlations

question 113

True/False

The goal of factor analysis is to determine if the correlations among a set of variables can be accounted for by one or more underlying dimensions,or factors.

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Definitions:

Demand Curve

A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing to purchase.

Price Ceiling

A cap established by the government on the maximum price that can be set for a good, service, or resource.

Market Equilibrium

A state where market supply equals market demand, leading to stable prices and quantities.

Price Ceiling

A cap on prices set by the government, limiting the maximum amount that can be charged for goods or services.