In one article, I saw that the beta coefficient of the independent variable on the dependent variable (.795) is multiplied with the standard deviation of the independent variable(.082). However, they also divided the above product by the mean of the dependent variable (.590). They interpreted this as “One standard deviation increase in the independent variable raises dependent variable by 11%” (=0.795* 0.082/0.590).
I have read about standardized regression coefficient from Prof Richard William’s teaching note https://www3.nd.edu/~rwilliam/stats1/x92b.pdf, but nowhere in it I could find the product of beta and s.dev of an independent variable gets divided by the mean of the dependent variable.
My question is that
- Is there such practice to divide by mean of the dependent variable for standardization? Also, can we interpret as the way paper interpreted?
- How to get such coefficients in Stata. I guess, the option listcoef, help won't help
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