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Suppose your university is planning on hiring a new president. As part of this process, they hire an expert to determine the knowledge, abilities, skills, and other characteristics that the search committee should look for in potential candidates for the position. This process is known as
Dummy Variables
Binary variables created to represent categorical data in order to use such variables in regression analysis.
Nominal Variable
A type of categorical variable for which there is no inherent order or ranking among the categories.
Indicator Variables
Variables used in regression analysis that take on the value of 0 or 1 to indicate the absence or presence of a categorical effect that may be expected to shift the outcome.
Indicator Variable
A variable used in mathematical modeling and statistical analysis that takes on the value of 0 or 1 to indicate the absence or presence of a certain condition or feature.
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