The analysis of variance is not a mathematical theorem, but rather a convenient method of arranging the arithmetic.- Ronald Fisher.The inexpensive Factor Analysis is a prominent statistical tool to identify a lot of underlying dormant factors. For more than a century it is used in psychology and also in a wide variety of situations.
Factor analysis capabilities:
Factor analysis helps to find solutions for a social scientist with capabilities like:
• To simultaneously manage over hundred variables.
• Compensate for random error & invalidity.
• Disentangles complex inter-relationships into their major & distinct regularities.
Factor analysis through inexpensive has its costs, including:
• Its mathematical complications.
• Entails diverse & numerous considerations in the application.
• Strange terms in technical vocabulary.
• Huge Analysis Reports covering most of the pages leaving less space for methodological introduction or explanation of terms.
• Students unable to learn it in their formal learning.
