We Can Include a Categorical Variable (Such as Region) in a Multivariate

question 1

True/False

We can include a categorical variable (such as region) in a multivariate model in the same way we include a continuous variable.

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Definitions:

Normal Application

In cost accounting, it pertains to the standard method used to allocate overhead costs to products or services.

Reality

The state of things as they actually exist, as opposed to an idealistic or notional idea of them.

Process

A series of actions or steps taken in order to achieve a particular end.

Favorable Variance

The difference between actual results and expected (budgeted) results that indicates more efficient or cost-effective performance.