If a Qualitative Variable Has C Categories, Then Only (C

question 99

True/False

If a qualitative variable has c categories, then only (c - 1)dummy variables must be included in the regression model.

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Definitions:

Marginal Cost

The investment required to manufacture an extra unit of a good or service.

Mineral Water

Water that contains minerals or other dissolved substances that alter its taste or give it therapeutic value, usually obtained from wells or springs.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers.

Marginal Cost

The added cost of producing one additional unit of a product or service.