Question 3 Read the following paragraphs extracted from an article entitled "Young Consumers Searching for a Bank Still want the Personal Touch" written based on a study of attitude to online banking Raised in an age of evolving technology, many young consumers are still banking the way their parents historically have done, according to a report by a research firm. The firm found that only 33 percent of consumers aged 18-34 are using online banking services. In addition, 37 percent of those ages 18-34 say that "better customer service would cause them to switch banking providers. With numerous financial service options available, the research also shows that younger consumers still have concerns about the security of online banking. Some 40 percent of those who do not use online banking state it is because they don't trust transactions on the Internet. The fact that many of them still rely upon human interaction for their banking is actually surprising, given the fact that these generations have grown up with the Internet already being a staple in their culture. Discuss how factor analysis can be applied for the above study by identifying the possible objective of study. a) Parent's Attitude to Banking Service Satisfaction X1 Bank Service Quality Tangible X2 Own Attitude to Online Banking X Security Assurance Competitors' Quality X Demographic Diagram 2: Structural Model for Attitude to Online Banking Study b) Diagram 2 shows the structural model obtained from the study. Explain this diagram by identifying the endogenous and exogenous constructs and measured variables (if any). Question 3 Read the following paragraphs extracted from an article entitled "Young Consumers Searching for a Bank Still want the Personal Touch" written based on a study of attitude to online banking Raised in an age of evolving technology, many young consumers are still banking the way their parents historically have done, according to a report by a research firm. The firm found that only 33 percent of consumers aged 18-34 are using online banking services. In addition, 37 percent of those ages 18-34 say that "better customer service would cause them to switch banking providers. With numerous financial service options available, the research also shows that younger consumers still have concerns about the security of online banking. Some 40 percent of those who do not use online banking state it is because they don't trust transactions on the Internet. The fact that many of them still rely upon human interaction for their banking is actually surprising, given the fact that these generations have grown up with the Internet already being a staple in their culture. Discuss how factor analysis can be applied for the above study by identifying the possible objective of study. a) Parent's Attitude to Banking Service Satisfaction X1 Bank Service Quality Tangible X2 Own Attitude to Online Banking X Security Assurance Competitors' Quality X Demographic Diagram 2: Structural Model for Attitude to Online Banking Study b) Diagram 2 shows the structural model obtained from the study. Explain this diagram by identifying the endogenous and exogenous constructs and measured variables (if any)