All of the following variables are likely to be limited dependent variables except for which one?
A) Consumer trips that include an ice cream purchase
B) Seasons in which a team wins their national championship
C) Average wholesale electricity price for state of Indiana
D) Whether a mortgage applicant is approved or not

Question

Quizplus · Accepted Answer

Limited dependent variables are typically used in models where the outcome variable is categorical or limited in some way, such as binary outcomes, counts, or categories. Choice C, "Average wholesale electricity price for state of Indiana," is not limited in this way; it is a continuous variable that can take on a wide range of values, making it the exception among the options provided.

All of the Following Variables Are Likely to Be Limited