Grouped continuous data

IK31

New Member
#1
If my continuous dependent variable (income) is grouped into categories e.g. (<15,000; £15,001 - 19,999; £20,000 - 29,999 etc.). How do I treat this variable? Do I use dummy coding and then treat it as ordinal data? Thanks!
 

hlsmith

Less is more. Stay pure. Stay poor.
#4
However, if you can restore or get the true underlying continuous variable - that would be ideal.
 
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