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http://dx.doi.org/10.7465/jkdi.2016.27.5.1285

A study on an evaluation system by factor loadings  

Lee, Kee-Won (Department of Finance & Information Statistics, Hallym University)
Sim, Songyong (Department of Finance & Information Statistics, Hallym University)
Publication Information
Journal of the Korean Data and Information Science Society / v.27, no.5, 2016 , pp. 1285-1291 More about this Journal
Abstract
To quantify an concept we often use Likert summated rating scale of original or standardized variables in case the variables are relatively less. When variables have different scales, standardized values tends to be used rather than the original values. This is also true in evaluating systems. For example, we may use standardized values of local tax levy, population, and etc. and use the summed value of the standardized values to access the degrees of development. In this paper, we propose using a data-driven weighted sum for a scoring system and the way how to obtain the weights. We apply the proposed method to a real data set and find that proposed method is better than the usual summated rating scale.
Keywords
Cluster analysis; factor analysis; factor loadings; scoring system;
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Times Cited By KSCI : 3  (Citation Analysis)
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