Economics · Econometrics
If a qualitative variable has m categories and an intercept term is present in the regression model, we should introduce:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 12m dummy variables
- 2(m - 1) dummy variables✓
- 3(m + 1) dummy variables
- 4m dummy variables
Correct answer
(m - 1) dummy variables
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