Examlex
Which of the following is characterized by complex and changing decision scenarios?
Marital Status
A demographic variable indicating the legal relationship status of an individual, such as single, married, divorced, or widowed.
Indicator Variables
Variables created to represent categorical data in numerical form, often used in statistical models to include qualitative data.
Regression Model
A statistical model that estimates relationships among variables, typically one dependent variable and one or more independent variables, to predict or explain outcomes.
Dummy Variable
A binary variable used in regression models to represent categorical data by encoding categories as 0 or 1.
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