If a Decision Maker Wishes to Develop a Regression Model

question 76

Multiple Choice

If a decision maker wishes to develop a regression model in which the University Class Standing is a categorical variable with 5 possible levels of response, then he will need to include how many dummy variables?

• A) 5
• B) 4
• C) 1
• D) 3

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Definitions:

Factory Workers

Individuals employed in factories or industrial sites, responsible for operating machinery, assembling products, and performing other tasks related to manufacturing.

Modernize

The process of adapting something to meet current standards or needs, often through the adoption of new technologies or practices.

Cultivated

Refers to land that has been prepared and used for crop production or gardening, also implies refinement or development of the mind or manners.

Citrus Fruit

A category of fruits that includes lemons, limes, oranges, and grapefruits, known for their high vitamin C content and tangy taste.