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Pick any relevant major dataset that you would like to analyze. Note that for successful factor analysis you need to have at least 15 variables,
- Pick any relevant major dataset that you would like to analyze. Note that for successful factor analysis you need to have at least 15 variables, that can potentially have common themes (factors).
- Use R, Python or other tool to compute exploratory factor analysis.
- Describ each step and a result of this process, include relevant scripts and outputs produced by the tool you use:
- Description of the dataset and the expectation of the factors.
- Description of the factors, variable loads.
- Explanation of the meaning of the factors.
- Give an example how the model can be used to predict the factor scores.
- Discuss the models quality.
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