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If a Categorical Independent Variable Contains 2 Categories,then _____ Dummy

question 202

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If a categorical independent variable contains 2 categories,then _____ dummy variable(s) will be needed to uniquely represent these categories.


Definitions:

Expense Allocation

The process of distributing or assigning costs to different departments, projects, or cost centers within an organization.

Profit Margin

A financial metric used to assess a company's profitability by calculating the ratio of net income to revenue.

Net Income

The total profit of a company after all expenses and taxes have been subtracted from revenue.

Return On Investment

A financial metric used to evaluate the efficiency of an investment, calculating profit or loss relative to the amount of money invested.

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