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Social and Market Research Methods Assignment Part (i) Principle Components Using Principle Components as the method of extraction we want to 'explain' most of the variation in the data with fewer variables. Factor Analysis (Table 1.1 Communalities of principle components (expectations survey)) Table 1.2 Initial principle components and their variance The SPSS output (table1.2) shows the variance accounted for by the first factor is 8.887 or 35.55% of the total variance. Since the object of factor analysis is to reduce the number of variables we have to handle, the next step is to decide how many factors we should keep. This really is a question of how many of the smaller factors we should retain, since we would keep the first few which explain most of the variance. Fig. 1.1 Scree plot of eigenvalues The scree plot (fig. 1.1) shows a break between the steep slope of the initial factors and a gentle one...

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