Determine the number of qualitative independent variables

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Repeat given Exercise, but for clients whose risk levels have been specified as low, medium, high, or very high.

Exercise
Data to be used in a linear regression analysis involving clients of an investment counselor include information regarding the risk level each client has specified: low, medium, or high. Determine the number of qualitative independent variables that will be required to represent this information and describe the coding scheme for each.

Reference no: EM131409562

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