Share 'Pros and cons of Dummy variable vs WoE approach for variables in Model building'
I need inputs on the pros and cons of building a log-reg model using dummy variables instead of the Weight of evidence approach for categorical variables. Some of the cons that I can think of using Dummy variable approach are:
2. Interpretation of output
I know one of the things that needs to be looked at is the number of unique levels within a categorical variable. But,…
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