Given a model where the variables are on a different scale, in order to make them comparable we need to:
A) Standardize the model by dividing the difference of the variable from its average by its standard deviation.
B) Don't need to do anything and can run the model in its unaltered form.
C) Standardize the model by taking the log/ln of each variable.
D) Standardize the model by dividing the coefficient of each variable by its standard deviation.

Question

Quizplus · Accepted Answer

In order to make variables on different scales comparable, we need to standardize them by dividing the difference of the variable from its average by its standard deviation. This will make the variables have a mean of 0 and a standard deviation of 1, allowing for easier comparison and interpretation of their coefficients in the model.

Given a Model Where the Variables Are on a Different