Today I Learned

Some of the things I've learned every day since Oct 10, 2016

88: Dummy Variables

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.

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