Summary 1ZM31 Multivariate Data Analysis by Hair 2023

Multivariate Data Analysis - -deals with statistical analysis of observations where there are multiple responses on each observational unit -a single variable - -MDA models reality where each situation, product, or decision involves more than _____ -process the information in a meaningful fashion - -Multivariate Analysis can be used to ___ -1. Consumer and market research 2. Quality control and assurance 3. Process optimization and process control 4. Research and development - -Uses of MVDA -Principle Component Analysis/Factor Analysis - -obtain a summary or an overview of a table identify the dominant patterns in the data such as groups, outliers, trends, and so on -Principal Component Analysis - -a class of procedures used for data reduction and summarization -interdependence technique - -PCA is an _____: no distinction between dependent and independent variables -1. to identify underlying dimensions, or factors, that explain the correlations among a set of variables 2. to identify a new, smaller, set of uncorrelated variables to replace the original set of correlated variables - -Uses of Factor Analysis -Bartlett's test of sphericity - -is used to test the hypothesis that the variables are uncorrelated in the population -Correlation Matrix - -is a lower triangle matrix showing the simple correlations between all possible pairs of variables included in the analysis