Definitions for "Dummy variable"
(1) a variable used as a placeholder; dummy variables usually do not have meaningful values. (2) in some statistical applications, a numeric variable whose value is limited to 1 or 0.
a dichotomy where the cases are ONLY coded as zero or one
a variable that typically takes on a value of one if the observation meets specified criteria and a value of zero if otherwise
Keywords:  yes, answer, car, piece, own
A piece of information that has only one of only two possible values. For example, the answer to “Do you own a car?” would be either “1” for yes or “0” for no.
Keywords:  estimate