An Indicator Variable Is a Nominal Variable That Can Assume

question 143

Short Answer

An indicator variable is a nominal variable that can assume _______________ possible values.

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Definitions:

Opportunities

Situations or conditions that present chances for progress, advancement, or profit.

Rationally

Pertaining to the use of reason or logical thinking in the decision-making process, often involving analytical and critical methods to solve problems.

Prior Knowledge

The information, understanding, and skills that an individual already possess before learning new information or gaining new experiences.

Entrepreneurs

Individuals who start, organize, and manage a business venture, taking on financial risks in the hope of profit.