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Support #2227

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Help needed with individual variable weighting

Added by William Pilcher 9 days ago. Updated 3 days ago.

Status:
Feedback
Priority:
Normal
Category:
Weights
Start date:
03/20/2025
% Done:

60%


Description

Good afternoon everyone,

I hope I'm not repeating a previously discussed question - I have had a look and didn't find anything, so sorry if I've missed my solution!

I am currently completing an econometric analysis whereby I'm creating a composite metric for prosperity through a regression model that uses many variables from the UKHLS (income, employment, health, etc).
My approach is to compose a unique value for this metric year by year, with a view to then compare how this prosperity metric has changed over time, before comparing it to GDP changes over the same time period.
My issue is with deriving the individual weightings for the selected variables in my regression model. I've gone through the documention provided as well as watching the video explaining weightings, but I don't think they apply to my use case. If they do, I could really use some help in how to assign them to each variable within my regression, as I'm quite a novice with this approach currently!

Many thanks in advance for the help.
Will

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