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Table 24-1
The table below lists annual consumer price index and inflation rates for a country over the period 2005-2010. Assume the year 2005 is used as the base year.
-Refer to Table 24-1. What belongs in space C?
Dependent Variable
The variable in an experiment or study that is affected by changes in the independent variable, representing the output or outcome.
Dummy Variables
Variables created to represent categorical data with two or more categories by assigning binary values (0 or 1), allowing them to be used in regression models.
Qualitative Variables
Variables that express qualitative attributes, and are usually described by non-numeric categories or groups.
Regression Model
A statistical approach for estimating the relationships among variables, often used for prediction and forecasting.
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