I have a mix of continuous and binary data. promotion here is binary so 1= yes 0=no. i standardize (mean 0 and s.d. 1 ) the continuous variables so they are same unit.
I get the following output:
is this the correct interpretation?
- a one unit s.d increase in temperature increase the s.d in products sold by 1030 therefore it has a large affect ; if we compare this to costs, costs has a greater coeff than temperature and therefore is more important
- for binary : if we run a promotion we can expect an increase in 5727 units sold.
- since coeff is greater for promotion than any others it is much more important feature : this one i struggle with, since the data for binary is not standardized and the coefficient has a different meaning is it right to compare relative importance between binary and continuous -- if not how can i RANK the predictors against one another?