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Suppose you'd like to know the determinants of property value, and build the following regression model: log(house_price) = 0 + 1 sqft + 2 bedrooms
Suppose you'd like to know the determinants of property value, and build the following regression model: log(house_price) = 0 + 1 sqft + 2 bedrooms + 3 year_built + You want to know whether the number of bedrooms is more important, or the year the house was built is more important. Which of the following should you do?
a. Directly compare 2 and 3 coefficients.
b. Perform log transformation to both bedrooms and year_built.
c. Perform log transformation to all variables in the regression.
d. Standardize all variables in the regression.
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