How would we incorporate this variable in our regression

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Question 1: provide real-life example of a binary limited dependent variable. How would we incorporate this variable in our regression (explain without calculations,

Question 2: What model should we use if we want to use the standard OLS method? Describe one weakness of this model.

Question 3: What are the alternatives? Can we interpret the coefficient value and significance level using methods similar to those in OLS regressions?

Reference no: EM133290885

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