Summary Multivariate Data Analysis, Hair et al., 2014 Questions and Answers

What are the two types of analysis tools? - -Exploratory and confirmatory. Exploratory helps develop a model. Confirmatory confirms a theory. -What are exploratory analysis tools? - -1st generation tools include Cluster analysis, EFA, and Multi dimensional scaling. 2nd generation tools include PLS-SEM, which is non-parametric and OLS estimation. -What are confirmatory analysis tools? - -1st generation tools include ANOVA, Logistic Regression, and Multiple Regression. 2nd generation tools include CB-SEM with CFA, which is normal distributions, parametric, and ML estimation. -Define SEM - -Structural equation modeling. It is Soft modeling and has Latent variable modeling. It is multivariate. Enables the examination of relationships among measured variables and latent variables. -What is a Latent Variable? - -Latent variable: captures a phenomenon that is unobservable (e.g. perception, intention). It cannot be directory measured. -What are Latent Variable traits? - -Abstract, Complex, Not directly measurable. Ex: trust, intention to use, intention to buy. There is no objective measurement such as $ or miles or temperature. -What is an independent variable (IV)? - -Variable related to the DV that: Drives the DV