A Variable That Takes on the Values of 0 or 1

question 55

Multiple Choice

A variable that takes on the values of 0 or 1 and is used to incorporate the effect of qualitative variables in a regression model is called

• A)an interaction
• B)a constant variable
• C)a dummy variable
• D)None of these alternatives is correct.

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Definitions:

Health Care Industry

The sector comprising medical services, manufacturing of medical equipment or drugs, insurance, and other goods and services designed to maintain or improve health.

GDP

Gross Domestic Product; the total market value of all the goods and services produced within a country in a specific period.

Health Clubs

Health clubs, also known as gyms or fitness centers, are facilities that provide a range of physical exercise equipment and programs to help individuals maintain or improve their fitness levels.

Medical Laboratories

Facilities where various forms of diagnostic and medical testing are conducted to obtain information about the health of patients.