A business analyst wanted to predict the success of a government intervention in failing firms, predicted by a categorical variable, 'duration of financial difficulty prior to the intervention'. The predictor variable had four categories: less than 6 months, 6-12 months, 1-2 years, more than 2 years. They needed to code these variables into dummy variables for the regression using less than 6 months as their control category. Which of the following represents the correct coding scheme?

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The Answer of A business analyst wanted to predict the success of a government intervention in failing firms, predicted by a categorical variable, 'duration of financial difficulty prior to the intervention'. The predictor variable had four categories: less than 6 months, 6-12 months, 1-2 years, more than 2 years. They needed to code these variables into dummy variables for the regression using less than 6 months as their control category. Which of the following represents the correct coding scheme?

A Business Analyst Wanted to Predict the Success of a Government