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In practice, is there generally a difference between having 100 factors and 1000 factors in a model? Is there a well-researched 'upper-bound' to how many factors a given model should have?

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    $\begingroup$ The question is unclear. how many factors a given model should have? Exactly as many as given in the model. $\endgroup$
    – ttnphns
    Commented Nov 4, 2014 at 19:17

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more in no. the factor better the results would be. there is no such limitation on number of factors to be chosen. it depends on the nature and type of research topic. however, for each factor you must have 5 variables and 25 respondents atleast. refered to ARM book by Hair and black.

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