I'm using the
multinom package in R to run a multinomial logistic regression model. My dependent variable has 3 levels and as the output, I'm getting the probability for each of the level.
Currently, I have the VIF, AIC, p-values and confusion matrix in the model.
I have the following questions:
I want a single output based on the probabilities. How do I decide a "cut-off" for deciding the "best event"?
Does it make sense to get an ROC curve here? If yes, then how do I get one?
What are the things I should look at for the validation of the model?