A Decision Maker Is Considering Including Two Additional Variables into a Regression

question 131

Multiple Choice

A decision maker is considering including two additional variables into a regression model that has as the dependent variable, Total Sales. The first additional variable is the region of the country (North, South, East, or West) in which the company is located. The second variable is the type of business (Manufacturing, Financial, Information Services, or Other) . Given this, how many additional variables will be incorporated into the model?

• A) 2
• B) 6
• C) 8
• D) 9

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Definitions:

Intellectual Background

Refers to an individual's accumulated knowledge, education, and cognitive abilities.

Family Practices

Medical practices that provide comprehensive health care for individuals and families across all ages, genders, diseases, and parts of the body.

External Variables

Factors outside the control of an experiment or study that can influence its outcome.

Socioeconomic Factors

Aspects related to a person's economic and social position that affect their health and access to resources.