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Which of followings regarding dummy variables are true?

tempt took 15 minutes. Question 1 1/1 pts Which of followings regarding dummy variables are true? (1) A dummy variable usuall

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Answer #1

Dummy variables are the ones which normally takes only finite number of values, the measurements are not meaningful as they are only used to categorize different interests and the categories assigned must be mutually exclusive. Hence,

Only (1) and (3) are correct.

Option B is correct.

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