Indicator Variable: The indicator variable is called a dummy variable. The indicator variable takes the value 0 and 1. It is used to represent qualitative elements in the statistical model. Regression …

Indicator variables are often used in a statistical analysis to measure the levels of a qualitative variable. Answer and Explanation: 1 An indicator variable can be used to show two levels of a qualitative …

See the leading economic indicator definition. Explore economic indicators examples. Compare and contrast leading and lagging economic indicators to see how they differ.

If the success and failures are represented as 0 and 1, then they are binary variables. Answer and Explanation: 1 A variable that helps to express the end result of a random event or variable in terms …

Create and identify an indicator variable to represent the nominal variable working shift (8 AM to 4 PM, 4 PM to 12 midnight, and 12 midnight to 8 AM).

A correlation of -0.1 indicates a weak negative correlation; a change in a first variable is a weak indicator of the opposite change in a second variable.

Answer to: Another name for a dummy variable gets called a binary variable. A) True B) False By signing up, you'll get thousands of step-by-step...

Defining indicator variables: The variables that are considered qualitative in nature and have two probable possibilities, either considered present or considered absent, cannot be evaluated in a …

Learn what discrete, continuous, and categorical variables are. Also, learn the comparison of each alongside examples for each type of variable.

The continuous random variable is in the form of an interval of values. Answer and Explanation: 1 When to use the indicator random variable The indicator random variable is the random variable for the …