[Gretl-users] New Gretl package: pcaTools

Hello Gretl community, I would like to announce a new package for conducting Principal Component Analysis (PCA). This package not only allows you to perform PCA but also includes some additional features that can be quite useful for your analysis. - Scree Plot: The package supports a scree plot, a graphical tool used in PCA to determine the number of principal components to retain. - Biplot: The package includes support for a biplot, a type of graph used in PCA to visualize the relationships between the data. A biplot allows you to see both the scores of the samples and the loadings of the variables, providing a comprehensive view of the data. Please note that this package is not officially available on the Gretl package server. However, you can find the Gretl package file on GitHub at this link: https://github.com/atecon/pcaTools/blob/main/src/pcaTools.gfn You can find the documentation for this package here: https://github.com/atecon/pcaTools/blob/main/src/pcaTools_help.md A sample script demonstrating how to use the package is also available: https://github.com/atecon/pcaTools/blob/main/src/pcaTools_sample.inp Gretl has built-in commands (`pca`) for estimating the principal components. This new package provides additional tools for PCA but does not replace the built-in functionality. There is also the `staticfactor` package available in Gretl, which supports Principal Component analysis using advanced methods but it (currently) has not support for creating bi-plots. I hope you find this new package useful for your PCA needs. Best, Artur