Summarizing a Number of Survey Questions into a Single Concept

question 56

Multiple Choice

Summarizing a number of survey questions into a single concept could be achieved with which type of analysis?

• A)factor analysis
• B)multiple discriminant analysis
• C)multiple regression analysis
• D)cluster analysis

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Definitions:

Socially Optimal

A situation in which resources are allocated in the most efficient way from the society's point of view, maximizing total welfare.

Pollution

The contamination of the natural environment by harmful substances or energies, which can affect air, water, and land negatively and pose risks to human health and ecosystems.

Marginal Benefit

The boost in utility or enjoyment derived from the additional consumption of a unit of a good or service.

Government Intervention

Actions taken by a government to affect the economy in various ways, such as through regulations, taxes, subsidies, or direct provision of goods and services.