Whenever a Categorical Variable Such as Season Has K Levels,the

question 25

Multiple Choice

Whenever a categorical variable such as season has k levels,the number of dummy variables required is

• A)k - 1.
• B)k.
• C)k + 1.
• D)2k.

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Definitions:

Expensive Engagement Ring

A high-cost ring typically given as a symbol of betrothal.

Everyday Clothes

Apparel items that are worn on a daily basis, typically casual or informal in nature.

High Risk Individuals

High risk individuals are those considered more likely to encounter certain hazards or negative outcomes due to their behaviors, characteristics, or environmental factors.

Low Risk

Refers to investments or decisions that carry a minimal potential for losing value or experiencing negative outcomes.