I have a construct financial literacy as a mediator as well as a dependent variable in a model. The independent variables in my model are on likert type scale. Financial literacy is measured as a set of 13-items which are multiple choice. A responses are captured as a '1' for a correct answer and '0' for an incorrect answer. I want to analyse the relationships using SEM. Is it possible or suggest any other alternative to conduct this analysis.
Dear Kirti Goyal
I came across this question (raised by one research workshop attendee).
The tutor gave the suggestion,
1) Analyze data by using Hayes The PROCESS macro for SPSS, SAS, and R (SPSS extension)
2) Use AMOS
Unfortunately, both techniques are beyond my research scope since I use Smart-PLS for analysis.
I am just sharing the information with you.
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