Dummy variable is simple when it is true or false.
What happens if the 'true' has multiple criteria that needs to be met?
For example, there are 4 criteria in total. And 3 out of 4 must be true for the Dummy to be true.
- How would I formulate this?
- Why 3 out of 4? Why not 2 out of 4? Or 4 out of 4? What rule would apply to determine the how many of the 4 must be met for me to be 'allowed' to say the dummy is true?