This multivariate statistical technique can summarize the information from a large number of variables into a much smaller number of variables by identifying latent relationships and combining variables into a few factors. This technique is called _____.
A) Cluster analysis
B) Regression analysis
C) Factor analysis
D) ANOVA
E) Discriminant analysis

Question

Quizplus · Accepted Answer

Factor analysis is the multivariate statistical technique used for summarizing the information from a large number of variables into a much smaller number of variables by identifying latent relationships and combining variables into a few factors. Cluster analysis is used for grouping similar objects into clusters, Regression analysis is used for predicting the value of a dependent variable based on values of independent variables, ANOVA is used for comparing means of multiple groups, and Discriminant analysis is used for predicting group membership based on predictor variables.

This Multivariate Statistical Technique Can Summarize the Information from a Large