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COMPUTATIONAL STATISTICS AND DATA ANALYSIS TO DETERMINE FINANCIAL AND ECONOMICAL IMPACTS OF COVID-19
Keywords:
COVID-19, the impact, factor analysis, data analysis, Saudi ArabiaDOI:
https://doi.org/10.17654/0973514323014Abstract
Background. Due to COVID-19 pandemic, there has been unprecedented increase in unemployment rates and social isolation nationally and globally.
Objective. The aim of this study is to use factor analysis as one of multivariate models in order to determine the extent of the social and economic impacts that COVID-19 has caused since its emergence.
Methods and Materials. A cross-sectional questionnaire was conducted in this study to assess the impact of the COVID 19 crisis with 727 participants.
Findings. The results showed four factors successfully constructed using factor analysis. Variables categorized in these factors are social isolation, economic damage, social and economic problems. The percentage explained by the factors is 50.683%. The political impact of coronavirus has resulted in governments’ decision-making and this impacted the society. Across the world, different governments handled coronavirus in different ways, which had both negative and positive results. The findings showed that COVID 19 has devastated the economy.
Received: April 14, 2023
Accepted: June 9, 2023
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