If a Decision Maker Wishes to Develop a Regression Model

question 76

Multiple Choice

If a decision maker wishes to develop a regression model in which the University Class Standing is a categorical variable with 5 possible levels of response, then he will need to include how many dummy variables?

• A) 5
• B) 4
• C) 1
• D) 3

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Definitions:

Skin Pigmentation

The coloring of a person's skin which is determined by the amount and type of melanin produced by the skin.

Hormone

A chemical substance produced in the body that serves as a messenger, regulating various physiological processes.

Growth Hormone

A hormone produced by the pituitary gland that stimulates growth, cell reproduction, and cell regeneration in humans and other animals.

Thyrotropin

A hormone, also known as thyroid-stimulating hormone (TSH), produced by the pituitary gland to regulate the production of hormones by the thyroid gland.