Determining the Optimal Component Numbers Using the Parallel Analysis Method and the ViSta - PARAN Computer Program

Abstract

This article exemplifies the application of ViSta-PARAN (Ledesma & Valero-Mora, 2007), a recently released, freely available computer program which uses Parallel Analysis (Horn, 1965) to resolve the number of factors or components question. ViSta-PARAN has a number of strengths, including a tabular data grid similar to a spreadsheet, a menu-based user interface, and graphical displays of results. A sample data set is employed to demonstrate the use of this program to determine the optimal number of factors or components, and suggestions are made for its further application.