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If a Categorical Independent Variable Contains 2 Categories,then _____ Dummy

question 202

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If a categorical independent variable contains 2 categories,then _____ dummy variable(s) will be needed to uniquely represent these categories.


Definitions:

Labor Hours

The total number of hours worked by all employees or workers in a specific period, often used to measure productivity or output.

Producing

The process of creating goods or services to be offered for sale, involving the combination of various resources.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision, representing the benefits missed out on.

Tacos

A traditional Mexican dish consisting of a corn or wheat tortilla folded or rolled around a filling, such as beef, pork, chicken, or beans.

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