A Dummy Variable Is an Ordinally Scaled Variable on That

question 39

True/False

A dummy variable is an ordinally scaled variable on that is coded "0" or "1."

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Definitions:

Title of Goods

The legal right to own, use, or sell a particular item of property, such as merchandise held for sale.

3/10 Net 30

A payment term indicating that a buyer can deduct 3% of the invoice amount if payment is made within 10 days; otherwise, the full amount is due within 30 days.

Invoice

A document issued by a seller to a buyer, detailing products or services provided, prices, and payment terms.

Markup

The amount added to the cost price of goods to cover overhead and profit, expressed as a percentage of the cost.