Dummy Variables: Regions and Seasons in a Regression
This lesson is part of the course
In this lesson
You turn text categories (region, season) into 0/1 dummy variables, fit them with LINEST, read the region effect against the base region and forecast a West store in peak season.
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Lessons in this course
- Scatter Plots & Correlation: Is There a Linear Relationship? Locked
- Simple Linear Regression by Hand: Least Squares, R² & Standard Error Locked
- Is the Slope Real? t Statistic, p-Value & Confidence Interval Locked
- Predicting a New Store: Point Forecast & Prediction Interval Locked
- Multiple Regression with LINEST: Three Drivers at Once Locked
- Dummy Variables: Regions and Seasons in a Regression Locked
- Residual Analysis: Residual Plot, Standardised Residuals & Outliers Locked
- Log Models & Elasticity, plus Two Classic Pitfalls Locked