The following exercises seek to determine what underlying structure exists among the following variables in profile-a.sav: highest degree earned (degree), hours worked per week (hrs1), job satisfaction (satjob), years of education (educ), hours per day watching TV (tvhours), general happiness (happy), degree to which life is exciting (life), and degree to which the lot of the average person is getting worse (anomia5). 1. The following output was generated for the initial analysis. Varimax rotation was utilized. c. Conduct factor analysis again if more components should be retained. d. Interpret components. 1. Evaluate the types of variables loaded into each component. 2. Note the strength and direction of loadings. 3. Label component accordingly. III. Summarize Results a. Describe any data elimination or transformation. b. Describe the initial model. c. Describe the criteria used to determine the number of components to retain. d. Summarize the components generated by narrating the variables loaded into each component, the strength and direction of loadings, the component labels, and the percentage of variance. e. do a table that summarizes each component (report component loadings). f. Draw conclusions. Chapter 9 Factor Analysis 276 a. Assess the eigenvalue criterion. How many components were retained? Is the eigenvalue appropriate, considering the number of factors and the communalities? Chapter 9 Factor Analysis 277 b. Assess the variance explained by the retained components. What is the total variability explained by the model? Is this amount adequate? c. Assess the scree plot. At which component does the plot begin to level off? d. Assess the residuals. How many residuals exceed the 0.05 criterion? e. Having applied the four criteria, do you believe the number of components retained in this analysis is appropriate? If not, what is your recommendation? 2. Assume that you believe four components should be retained from the analysis in the previous exercise. Conduct a factor analysis with varimax rotation (be sure to retain four components). a. Evaluate each of the four criteria. Has the model fit improved? Explain. b. Provide two alternatives for improving the model.