How to model qualitative factors with more than two categories (similar to region of the country), and

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How to model qualitative factors with more than two categories (similar to region of the country), and how to interpret the resulting model, giving an example.

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Principles Of Econometrics

ISBN: 9781118452271

5th Edition

Authors: R Carter Hill, William E Griffiths, Guay C Lim

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Question Posted: Mar 30, 2024 11:01 AM

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How to model qualitative factors with more than two categories (similar to region of the country), and

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To model qualitative factors with more than two categories such as region of the country you can use a technique called dummy coding or indicator variable coding This approach involves creating binary ...View the full answer

Principles Of Econometrics

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