BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -In regression analysis, a dummy variable (also known as indicator variable or just dummy) is one that takes the values 0 or 1 to indicate the absence or presence of some categorical effect that may be expected to shift the outcome.

Detailed explanation-2: -A dummy variable is a binary variable that takes a value of 0 or 1. One adds such variables to a regression model to represent factors which are of a binary nature i.e. they are either observed or not observed.

Detailed explanation-3: -A dummy variable is a variable created to assign numerical value to levels of categorical variables. Each dummy variable represents one category of the explanatory variable and is coded with 1 if the case falls in that category and with 0 if not.

Detailed explanation-4: -A variable used to model the effect of categorical independent variables in a regression model; generally takes only the value zero or one. The outcome of a random experiment (such as the drawing of a random sample) and so represents an uncertain outcome.

Detailed explanation-5: -Logistic regression describes the relationship between a set of independent variables and a categorical dependent variable.