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An economic variable can be exogenous in some models and endogenous in others. In particular this can happen when one model also serves as a component of a broader model.
In mathematics, and in other disciplines involving formal languages, including mathematical logic and computer science, a variable may be said to be either free or bound.. Some older books use the terms real variable and apparent variable for free variable and bound variable, respective
In mathematics, a function is a rule for taking an input (in the simplest case, a number or set of numbers) [5] and providing an output (which may also be a number). [5] A symbol that stands for an arbitrary input is called an independent variable, while a symbol that stands for an arbitrary output is called a dependent variable. [6]
In the more general multiple regression model, there are independent variables: = + + + +, where is the -th observation on the -th independent variable.If the first independent variable takes the value 1 for all , =, then is called the regression intercept.