A Binary Variable (Also Called a Dichotomous Variable or Dummy

question 76

Multiple Choice

A binary variable (also called a dichotomous variable or dummy variable) has:

• A)only two possible values.
• B)continuous scale values.
• C)rounded data values.
• D)ordinal or interval values.

---

Definitions:

Good Faith

Good faith refers to an honest intention to act without taking an unfair advantage over another party, often used to denote sincerity in negotiations or in fulfilling contractual obligations.

Failure of the Forklift

Failure of the forklift refers to the breakdown or malfunctioning of a forklift vehicle, which can impact operations, primarily in warehousing and logistics.

Limit Negotiability

Refers to conditions or restrictions that impair the ability to freely transfer or negotiate a financial instrument.

Indorsement

A signature or note on a document (such as a cheque or bill of exchange) that specifies the future control or ownership of the document.