________ is a class of procedures primarily used for data reduction and summarization.
A)Regression analysis
B)Factor analysis
C)Discriminant analysis
D)Conjoint analysis

Question

Quizplus · Accepted Answer

Factor analysis is a statistical method used to identify variables that are related to each other and group them into factors that can explain a larger proportion of the variance in the data. This process can reduce a large number of variables into a smaller set of factors for easier interpretation and analysis. Therefore, it is primarily used for data reduction and summarization. The other options, such as regression analysis, discriminant analysis, and conjoint analysis, are used for other purposes like predicting outcomes, classification, and measuring consumer preferences, respectively.

________ Is a Class of Procedures Primarily Used for Data