Some of the things I've learned every day since Oct 10, 2016
88: Dummy Variables
January 9, 2017Posted by on
In statistics, a dummy variable is an independent variable which only takes on the values 0 or 1. This is used as an indicator variable, categorizing the object in question and adjusting its model accordingly: if the value is 1, the weight of the dummy variable will be factored in, but not if the value is 0.