Currently we have a linear model which includes 3 independent variables and the dependent variable "Y" which is the predicted values (range from -0.5 to 2000) from the model. Now we want to leverage the same model by just removing one of the predictor (lets call that as X1).
One of my colleague suggested to run a model by have a new dependent as (Y-X1) against the two predictors. Is this a correct approach or is there any better way like "offset" technique for continuous dependent variable?
I really appreciate your help in advance.