Question
A company wants to investigate the relationship between the number of employees and the revenue generated. They collect data on 10 departments and record the
A company wants to investigate the relationship between the number of employees and the revenue generated. They collect data on 10 departments and record the number of employees and revenue for each department. The data is shown in the table below:
Department | Number of Employees | Revenue (in thousands of dollars) |
---|---|---|
1 | 10 | 15 |
2 | 15 | 20 |
3 | 20 | 30 |
4 | 25 | 35 |
5 | 30 | 40 |
6 | 35 | 50 |
7 | 40 | 60 |
8 | 45 | 70 |
9 | 50 | 80 |
10 | 55 | 90 |
Perform a factor analysis on this data and interpret the results. Assume a significance level of 0.05.
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The detailed answer for the above question is provided below To perform a factor analysis we first need to standardize the data We calculate the zscor...Get Instant Access to Expert-Tailored Solutions
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Elementary Statistics A Step By Step Approach
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8th Edition
73386103, 978-0073386102
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