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Greg,a U.S.citizen,opens an ice cream store in Bermuda.His expenditures are U.S.
Regression Analysis
A set of statistical processes for estimating the relationships among variables, often to predict a dependent variable from one or more independent variables.
Indicator Variable
A variable used in statistical analyses that adopts a value of 1 if a certain condition is true and 0 if false, often used to represent the presence or absence of a characteristic.
Dummy Variable
A variable used in regression analysis to represent subgroups of the sample in your study.
Nominal Independent Variable
A variable used in statistical analysis that represents categories without a natural order or ranking.
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