A Quantitative Variable Which Can Have Only the Values of Zero

question 40

True/False

A quantitative variable which can have only the values of zero (0) or one (1) and which is used to represent a qualitative variable is known as a (1, 0) dummy variable.

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Definitions:

Lettuce Crop

Horticultural practice involving the cultivation of lettuce for consumption as a leafy green vegetable.

Flooding

An overflow of water that submerges land that is usually dry, usually caused by heavy rainfall or other hydrological phenomena.

Price Restrictions

Regulations or limitations placed on the pricing of goods and services, often to control inflation or protect consumers.

Excess Demand

Excess Demand occurs when the quantity demanded of a good or service exceeds its quantity supplied at a particular price.