What is a binary variable?

A binary variable is a type of categorical variable that can only take on two possible values or categories. These categories are typically labeled as 0 and 1 or as "yes" and "no". Binary variables are commonly used in statistical modeling and analysis, particularly in logistic regression. They can represent a range of characteristics or attributes, such as gender (male or female), whether an event occurred (yes or no), or the presence or absence of a particular trait or condition. Binary variables are useful for simplifying data and can be used in machine learning models and decision-making processes.