Hi:
I have econometric/statistical theory questions about dummy
variables and correlation analysis:
1. Is there any theory that prohibit one from undertaking a
correlation analysis (i.e., correlation matrix) with either
with Person or Spearman rank correlation test on variables,
which are all dummies?
2. If there is no prohibition, theory wise, can the bivariate
correlation coeficients for the dummy variables be interpreted
in the same way as one would do with continuous variables?
Thanks for your usual cooperation.
Regards,
Stephen
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