þáttakenningum
Þáttakenningum is an Icelandic term that translates to "factor analysis" in English. It is a statistical method used to describe variability among observed, correlated variables in terms of a potentially lower number of unobserved variables called factors. The core idea is to identify underlying latent constructs that explain the patterns of relationships between multiple measured variables.
In essence, factor analysis seeks to reduce a large set of observed variables into a smaller set
The process typically involves calculating a correlation matrix of the observed variables and then extracting factors