Myntra Interview Question | What should be the value of a good variable which we should include in our model?

Question

With respect to p-value and t-value

in progress 1
TheDataMonk 4 years 3 Answers 916 views Grand Master 0

Answers ( 3 )

  1. for our variable to be significant the p value should be greater than .05 and t value should be as large as possible. this is mostly done in linear regression models

  2. To check the importance of the independent variable we can’t use either the coefficient or p value, as chances of units of independent and dependent variable may change. And p value says the significance of the variable and not the importance in practice sense.
    So we can use the coefficients of the standardised variables and r square Value to determine the importance of the variable.
    Also non statistically, by using domain knowledge we can choose the important variable.

  3. p value must be lower than 0.05 to reject H0 which states that the variable coefficient is 0 that means it has no impact on the dependent variable. This is generally used in OLS.

Leave an answer

Browse
Browse