How do you interpret the coefficient of a dummy variable? Why do you only need to create

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How do you interpret the coefficient of a dummy variable? Why do you only need to create k-1 dummy variables for a variable with k categories?

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Bank Management and Financial Services

ISBN: 978-0078034671

9th edition

Authors: Peter Rose, Sylvia Hudgins

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Posted Date: Apr 07, 2021 09:44 PM

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How do you interpret the coefficient of a dummy variable? Why do you only need to create

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Dummy Variables in Regression In this lesson we show how to analyze regression equations when one or more independent variables arecategorical The key to the analysis is to express categorical variabl... View the full answer

Bank Management and Financial Services

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