I am running a regression where my dependent variable is a 0-6 scale Likert item, and I am planning to run the regression via OLS before I compare the results to an ordered logit model. In my OLS model, I've normalized my dependent variable to be a scale between 0 and 1 (which will hopefully get around the issue that running OLS on Likert scale items will produce biased and inconsistent results). How do I interpret my regression output in this case? if I receive a coefficient of 0.04 for example, can I say that this is a 4% increase in the dependent variable for a unit increase in the independent variable?
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