An actuary wishes to predict the life expectancy of a person based on several variables.One categorical variable of interest is their relationship status - single,married,divorced,widowed,or common-law.If the actuary wished to include "relationship status" in a regression model,how many indicator variables would he/she need to use in the model?
A) 4
B) 2
C) 3
D) 5
E) 1
Correct Answer:
Verified
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