Question: 4. Factor Analysis: o Conduct a factor analysis to identify latent factors that explain the shared variance among the predictor variables. o Examine the factor
4. Factor Analysis: o Conduct a factor analysis to identify latent factors that explain the shared variance among the predictor variables. o Examine the factor loadings and determine the interpretation of each factor. o Assess whether the identified factors provide insights into the underlying structure of the data and the potential for dimensionality reduction. o Compare the predicted and actual audit fees to assess the model's accuracy
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