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Hi,
I'm making a business case in which I use regression analysis to find out which independent variables have the most impact on our stock level. For this I want to compare the coefficients of each variable. Since the variables have different units (days, euros) I think I need to use the standardized coefficient for comparison.
I have some categorical (dummy) variables too, and am unsure if this method works in this case. Can I compare the coefficients of my dummies with those of my other variables? If I'm correct those dummy coefficients depend on your choice of benchmark (the category which has no dummy). And how do I compare the benchmark with the other quantitative variables, since I have no coefficient for this one?
How can I determine which variables have the most impact on our stock level?
Some data below: 'Acquisition strategy' and 'Dimension' are categorical variables with only two categories. 'MAK', 'ME', 'MS' are all categories of the same variable.
I'm making a business case in which I use regression analysis to find out which independent variables have the most impact on our stock level. For this I want to compare the coefficients of each variable. Since the variables have different units (days, euros) I think I need to use the standardized coefficient for comparison.
I have some categorical (dummy) variables too, and am unsure if this method works in this case. Can I compare the coefficients of my dummies with those of my other variables? If I'm correct those dummy coefficients depend on your choice of benchmark (the category which has no dummy). And how do I compare the benchmark with the other quantitative variables, since I have no coefficient for this one?
How can I determine which variables have the most impact on our stock level?
Some data below: 'Acquisition strategy' and 'Dimension' are categorical variables with only two categories. 'MAK', 'ME', 'MS' are all categories of the same variable.
