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
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Machine Learning
4 years
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Answers ( 3 )
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
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.
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.