Factor Analysis: Illustration with Practical Example in Minitab

#MultivariateAnalysis #FactorAnalysis #MultivariateTools #FA #MultivariateToolsInMinitab #MultivariateAnalysisMinitab #FactorAnalysisMinitab

Hello Friends,
In the last video, we had seen the 1st tool of multivariate analysis in Minitab software i.e. Principal Components Analysis with the help of a practical example.
In this video, we are going to learn the 2nd tool of multivariate analysis in Minitab software i.e. Factor Analysis with the help of a practical example for easy understanding and better clarity.
This video consists of the following topics:
• What is Factor Analysis (FA)?
• Data considerations for Factor Analysis (FA)
• Example of Factor Components Analysis
• Conduct Factor Analysis (FA) in Minitab with a practical example including
1. Number of factors to extract
2. Method of Extraction: Principal components and Maximum likelihood
3. Type of Rotation:
 None
 Varimax
 Quartimax
 Equimax
 Orthomax with γ:
4. Graphs:
 Scree Plot,
 Score plot for first 2 factors,
 Loading plot for first 2 factors, and
 Biplot for first 2 factors
• Detailed interpretation of results from Principal Component Analysis (PCA) including:
 Unrotated factor loadings
 Rotated Factor Loadings and Communalities
 Large loading and Small loading of factors on variables
 Categorization of data
 % of variation explained by each factor
 % of variation explained by all factors together
 Detailed interpretation of Loading plot for the first 2 components, and
• The conclusion from the analysis.
I am sure, you will be liked it.

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