The Difference Between Standardized and Regular Regression Coefficient
Please help with the following problem. Provide at least 200 words in the solution.
I know that a standardized regression coefficient is able to provide us with a ranking of the relative importance of each independent variable in a regression model. However, I am confused about the difference between the standardized and regular regression coefficient.
Can you help me distinguish the differences between these?© SolutionLibrary Inc. solutionlibary.com 9836dcf9d7 https://solutionlibrary.com/math/numerical-analysis/the-difference-between-standardized-and-regular-regression-coefficient-205
... is the constant (b) that represents the rate of change of one variable (y) as a function of changes in the other (x); it is the slope of the regression line. In other words, the slope b of a line obtained using linear least square fitting is called the "regression coefficient".
Standardized Regression Coefficient
When an analysis is performed on variables that have been standardized so that they have variances of 1.0, the estimates that ...