Question: Indicators For each of these potential predictor variables, say whether they should be represented in a regression model by indicator variables. If so, then suggest
Indicators For each of these potential predictor variables, say whether they should be represented in a regression model by indicator variables. If so, then suggest what specific indicators should be used (that is, what values they would have).
a) In a regression to predict weekly household milk consumption, whether a teenager is living in the home
b) In a regression to predict the square footage available for rent, the number of stories in a commercial building
c) In a regression to predict the amount an individual’s medical insurance would pay for an operation, whether the individual was over 65 (and eligible for Medicare)
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