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What is a dummy variable? If we use one on the right-hand side of the equation...

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Basic Math

What is a dummy variable? If we use one on theright-hand side of the equation in a multivariate analysis, whatare the implications for interpreting theconstant?  What is multicollinearity?How do we know if we have it in our models? How do we correct forit if we do?  What ishetereskedasticity? Should we really be concerned about it? Why orwhy not?

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