Dummy variable, Econometrics
What are Dummy Variables? In regression analysis, we often need to include qualitative (categorical) variables — variables that represent categories rather than numerical quantities. Examples include gender (male/female), employment status (employed/unemployed),...
Econometrics, Regression Analysis
What is Regression Analysis? Regression analysis is a statistical technique used to examine and quantify the relationship between variables. In economics and econometrics, it allows us to move beyond describing a relationship in words and instead estimate it...
