Solved

The Income of an Individual in Budopia Depends on His

Question 9

Multiple Choice

The income of an individual in Budopia depends on his ethnicity and several other factors which can be measured quantitatively. If there are 5 ethnic groups in Budopia, how many dummy variables should be included in the regression equation for income determination in Budopia?


A) 1
B) 5
C) 6
D) 4

Correct Answer:

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