In February 2025
Answer to Question #232642 in Economics for KAT
What are dummy variables? What is their importance in regressing analysis?
A dummy variable is a numerical variable used in regression analysis to represent subgroups of the sample in your study.
Dummy variables are useful because they enable us to use a single regression equation to represent multiple groups. Theу act like 'switches' that turn various parameters on and off in an equation.
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