Assume You Are Considering Including Two Additional Qualitative Variables into a Regression

question 50

Multiple Choice

Assume you are considering including two additional qualitative variables into a regression model. The first variable has 4 categories, and the second variable has 4 categories as well. Given this information, how many indicator variables will be incorporated into the model?

• A) 8
• B) 7
• C) 6
• D) 5
• E) 4

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Definitions:

Layoffs

The involuntary termination of employees, often due to financial constraints, downsizing, or restructuring within an organization.

Junior Workers

Employees at the early stages of their careers, usually with less experience and responsibilities.

HRIS

Human Resource Information System is a software solution used for data entry, data tracking, and the data management of all human resources operations of an organization.

Leverage Employees

Utilizing employees' skills, knowledge, and capabilities to maximize organizational success and effectiveness.