Compare and Contrast (Do Both)elaborated and Restricted Codes

question 18

Essay

Compare and contrast (do both)elaborated and restricted codes.

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Definitions:

Omitted Category

In statistical modeling, it refers to a category or group within a variable that is excluded from analysis, often serving as a baseline against which other categories are compared.

Dummy Variables

Numerical variables used in regression analysis to represent subgroups of the sample in a binary form.

Indicator Variable

A variable used in statistics that takes the value 1 to indicate the presence of a certain condition and 0 to indicate its absence.

Nominal Variables

Categorical variables that have two or more categories without having a natural order or rank.