Figure 4
The flowchart begins with an oval labeled “Start”. A downward arrow extends from “Start” and leads to a box labeled “Clean data”. A downward arrow leads to a diamond-shaped box labeled “For age underscore range in [18 to 25, 26 to 35, 36 to 49, 50 to 65, plus 65]”. A downward arrow leads to a box that contains two numbered bullet points: “1. Filter clean data with age range. 2. Standard scale of each column”. A downward arrow leads to a hexagon-shaped box labeled “For key underscore dimension in [Planning, Wealth, Spending, Sophistication, Debt, Savings, Protection]”. A downward arrow leads to a box labeled “Select only the variables that construct the key dimension variable underscore 1, variable underscore 2, variable underscore p”. A rightward arrow extends from this box to a decision loop that begins with a hexagon labeled “While (k m o less than or equal to 0.69) and (Cronbach’s alpha less than 0.6)”. A downward arrow extends from this hexagon and leads to a rectangle that contains two numbered bullet points: “1. Subsample the age range data. 2. Compute k m o and Cronbach’s alpha”. A downward arrow leads to a decision box labeled “Check if (k m o less than or equal to 0.69) and (Cronbach’s alpha less than 0.6)”. If “No”, a rightward arrow loops back to the hexagon labeled “While (K M O less than or equal to 0.69) and (Cronbach’s alpha less than 0.6)”. If “Yes”, the process continues to the next stage and a downward arrow labeled “S I” leads to a box labeled “Training of weighting-based on P C A indicator (level 1) for key underscore dimension”. A small arrow-shaped marker labeled “1” appears beside this step. A downward arrow leads to a box labeled “Sub-indicator Key dimension”. A downward arrow leads to a box labeled “Standard scale for each sub-indicator”. A downward arrow leads to a box that contains seven bullet points: “Sub-indicator Planning, Sub-indicator Wealth, Sub-indicator Spending, Sub-indicator Sophistication, Sub-indicator Debt, Sub-indicator Savings, Sub-indicator Protection”. A small arrow-shaped marker labeled “2” appears beside this box. A downward arrow leads to a box labeled “Training of weighting-based on P C A indicator (level 2) for each age underscore range”. A small arrow-shaped marker labeled “3” appears beside this step. A downward arrow leads to a box labeled “F W I by age range”. A downward arrow leads to a box that contains five bullet points: “18 to 25 F W I, 26 to 35 F W I, 36 to 49 F W I, 50 to 65 F W I, plus 65 F W I”. A small arrow-shaped marker labeled “4” appears beside this box. An arrow extends from the “F W I by age range” box and loops back to the hexagon labeled “For age underscore range in [18 to 25, 26 to 35, 36 to 49, 50 to 65, 65 plus]”.Additionally, a long leftward arrow extends from the box labeled “Standard scale for each sub-indicator”, runs along the left side of the flowchart, and connects back to the hexagon labeled “For key underscore dimension in (Planning, Wealth, Spending, Sophistication, Debt, Savings, Protection)”. A final downward arrow leads to an oval labeled “End”.Implementation workflow for the FWI algorithm. Source: Authors' own work