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Factor Analysis
Abstract
Factor analysis is a statistical method used to describe variability among observed, correlated variables. The goal of performing factor analysis is to search for some unobserved variables called factors. The observed variables are modelled as linear combinations of the possible factors, added the error quantification of this approximation. This added information about the interaction of observed variables could be used for further analysis of the importance of each variable in the context of the dataset. This way, some observed variables are substituted by a set of latent variables in a lower amount, and that, therefore, represents the data in a summarized fashion.
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