For this Knowledge Assessment, you calculate the concurrent validity coefficient between a predictor scale and criterion measure in the dataset provided. First, you will be guided through the process of how to create new variable scales. Then, you calculate the validity measure on one of the scales.
The MoneyData.sav dataset that you have been provided contains three scales that measure financial attitudes:
LIFESTYLE (L1 to L6) measures the desire for a luxurious lifestyle
DEPENDENCE (D1 to D6) measures the tendency to depend on others for financial support (high scores) vs. supporting others (low scores)
RISKTAKING (R1 to R6) measures the tendency to take financial risks in investments and careers
Create Three New Variables Showing the Scores on These Three Scales
To create the RISKTAKING scale, click on TRANSFORM>COMPUTE VARIABLE. In the Target Variable field, type RISKTAKING. In the Numeric Expre