Question: Explain how to create dummy variables to include a categorical variable in regression analysis. Make sure you mention the omitted category. Use colleague classification, Freshman,

Explain how to create dummy variables to include a categorical variable in regression analysis. Make sure you mention the omitted category. Use colleague classification, Freshman, sophomore, junior and senior as an example to illustrate your answers.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!