Question: Make a categorical or dummy variable to add to your regression. Run a multiple regression with this new variable and interpret the results. Data set
Make a categorical or "dummy" variable to add to your regression. Run a multiple regression with this new variable and interpret the results.
Data set
| Inflation | 2018 | 2019 | 2020 | 2021 | 2022 |
| Last 30 days | 9.06% | 9.06% | 9.06% | 9.06% | 9.06% |
| Last 90 days | 8.58% | 8.58% | 8.58% | 8.58% | 8.58% |
| Year-over-year | 9.10% | 9.10% | 9.10% | 9.10% | 9.10% |
| Honda Accord | 2018 | 2019 | 2020 | 2021 | 2022 |
| Avg Price | $27,236 | $28,818 | $30,878 | $34,242 | $36,297 |
| Last 30 days | -0.20% | -0.12% | -0.23% | -0.61% | -0.98% |
| Last 90 days | 1.08% | 2.45% | 2.41% | 2.28% | 1.74% |
| Year-over-year | 9.41% | 9.98% | 10.07% | 9.68% | 0.00% |
| Toyota Camry | 2018 | 2019 | 2020 | 2021 | 2022 |
| Avg Price | $25,352 | $27,445 | $29,011 | $31,959 | $36,321 |
| Last 30 days | -0.28% | -0.06% | -0.36% | -1.28% | -0.57% |
| Last 90 days | 1.11% | 1.98% | 0.90% | -0.92% | 2.68% |
| Year-over-year | 7.04% | 7.59% | 8.58% | 4.38% | 0.00% |
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
Study Help