If a Qualitative Variable Has 4 Categories, How Many Dummy

question 17

Multiple Choice

If a qualitative variable has 4 categories, how many dummy variables must be created and used in the regression analysis?

• A)3
• B)4
• C)5
• D)6
• E)7

Identify and distinguish between final goods and intermediate goods.

Understand the calculation and interpretation of GDP, including what is excluded or included in its calculation.

Recognize the impact of various activities and expenditures on GDP.

Understand the concept of value added in the context of GDP.

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