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Using statistical tools for business needs III ⦿ Factor analysis + SEM method

Course date: 09.02.2023

Venue of the course: Trenčín (Slovak Republic)

Form of the course: face-to-face, online

Course price: 590  €

Level of difficulty: demanding

 

OBJECTIVE OF THE COURSE​


The aim of the course is to familiarize participants with the practical use of factor analysis methods. Emphasis is placed on understanding and interpreting the results. The model and algorithms are not included in the course, unless it is necessary for the practical mastery of the method. Furthermore, the participant will acquire practical skills of constructing models of causal processes and testing these models on specific data. The participant of the course will master the methodology of creating causal models, the interpretation of the graphical representation of models and the entry of models in the user-friendly and easy program for the analyst IBM SPSS Amos.

 

ASSUMPTIONS OF THE COURSE


The course assumes the ability to master computer knowledge of hypothesis testing, correlation analysis, regression analysis, differences and application of the given methods, their economic interpretation. Experience with the statistical software SPSS Statistics is not necessary. The course takes place in the statistical software IBM SPSS Statistics - Factor analysis and IBM SPSS Amos - SEM method.  

 

COURSE BENEFITS

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The basic benefits of the course include: 

  • the content of the course is based on empirical analyzes of the real requirements of companies for their processing (time distribution: 20% theory; 80% examples);

  • study materials in electronic and printed form;

  • examples to verify acquired knowledge; 

  • consultations with the lecturer on problems from business practice related to the course topic during and after completing the course;

  • completion of the course in various forms: individually or in smaller groups; directly in the company upon agreement; 

  • obtaining a course completion certificate.

 

COURSE CONTENT

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  • Introduction and importance to factor analysis (FA). Types of FA: exploratory factor analysis (EFA) and confirmatory factor analysis (CFA). Differences and common characteristics. Application options. 

  • Characteristics of latent and manifest variables. Indication of latent traits. Measurement of values of latent variables

  • Extraction of the principal solution - principal component analysis (PCA) and other methods. Meaning of estimated parameters and interpretation of factors. Use of factors in further analysis. 

  • Structural equation modeling (SEM) - basic rules for working with the SPSS Amos software, FIT characteristics of the SEM model, graphical visualization of the model in the  SPSS Amos environment. 

  • Estimates in the model. Model testing. Deciding on model quality. Model fit tests. Tests on correlations, variances and averages. 

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