Overview of Multivariate Methods - Guidelines for analysis and interpretation
4 important questions on Overview of Multivariate Methods - Guidelines for analysis and interpretation
What is the 6-step approach as discussed by Hair et al?
1. Define a research problem, objectives, and multivariate technique to be used.
2. Develop the analysis plan.
3. Evaluate the assumptions.
4. Estimate the multivariate model and evaluate fit.
5. Interpret the variates.
6. Validate the multivariate model.
What is a validation sample?
What is the difference between reliability and validity?
Validity is the extent to which a measure or set of measures correctly represent the concept of study. Stated differently: the extend to which the data is free from systematic error. It is about how well the concept is defined by the measures. It is about what should be measured.
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What is the difference between practical and statistical significance?
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