Factor analysis is a multivariate statistical technique that can summarize the information from a large number of variables into a much smaller number of variables or factors.

Question

Quizplus · Accepted Answer

This statement is true. Factor analysis is a useful method for reducing the number of variables in a dataset by summarizing them into a smaller number of underlying factors that explain the majority of the variance in the data.

Factor Analysis Is a Multivariate Statistical Technique That Can Summarize