In regression analysis,a nominal independent variable such as color,with three different categories such as red,white,and blue,is best represented by three indicator variables to represent the three colors.
Correct Answer:
Verified
Q71: It is not possible to incorporate nominal
Q72: Motorcycle Fatalities
A traffic consultant has analyzed
Q73: In explaining the amount of money spent
Q74: Motorcycle Fatalities
A traffic consultant has analyzed
Q75: Silver Prices
An economist is in the
Q77: In regression analysis,indicator variables are also called
Q78: An indicator variable (also called a dummy
Q79: Motorcycle Fatalities
A traffic consultant has analyzed
Q80: Motorcycle Fatalities
A traffic consultant has analyzed
Q81: Which of the following statements about dummy
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents