OMIS 2050 - Class 10: Class 10 - Analyzing Multivariate Models with Continuous & Categorical Variables

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8 Terms

1
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What is a dummy variable?

qualitative / categorical independent variable representing levels

2
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What are a dummy variable’s values?

  • 0

  • 1

3
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What does a dummy variable 0 represent?

absent characteristic

  • base level

4
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What does a dummy variable 1 represent?

present characteristic

5
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What are the dummy variable’s regression equation effects?

  • = slope

  • ≠ intercept

6
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What is the dummy variable 0’s regression equation?

b_0+b_1x_1

7
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What is the dummy variable 1’s regression equation?

b_0+b_2+b_1x_1

8
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What is the method of converting >2 dummy variable models?

level\#-1