Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The United Nations conducts annual studies that measure the level of happiness among its member countries. Happiness measurements are based on survey questions such as

The United Nations conducts annual studies that measure the level of happiness among its member countries. Happiness measurements are based on survey questions such as how people feel about their life (i.e., life ladder), levels of positive and negative emotion, freedom to make choices (Life choices), and aggregate indicators such as social support, life expectancy, and relative household income. These data are converted into numerical scores for each member country.
Click here for the Excel Data File
a-1. Conduct principal component analysis on all the variables except the Country variable. Should you standardize the data?
multiple choice
Yes
No
a-2. What percent of the total variability is accounted for by the first principal component?
Note: Round your final answer to 2 decimal places.
b. How many principal components must be retained in order to account for at least 80% of the total variance in the data?
c-1. Display the weights used to compute the first principal component scores.
Note: Round your final answers to 4 decimal places.
c-2. Which original variable is given the highest weight to compute the second principal component?
d. What is the first principal component score for the first record (Albania)?
Note: Round your final answer to 4 decimal places.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Quantitative Methods For Business

Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey Cam

12th Edition

840062338, 840062346, 9780840062338, 978-0840062345

More Books

Students also viewed these General Management questions