Publication date: 08/13/2020

Variable Importance Plot

The Variable Importance Plot graphs the VIP values for each X variable. The Variable Importance Table shows the VIP scores. A VIP score is a measure of a variable’s importance in modeling both X and Y. If a variable has a small coefficient and a small VIP, then it is a candidate for deletion from the model (Wold 1994). A value of 0.8 is generally considered to be a small VIP (Eriksson et al. 2006) and a red dashed line is drawn on the plot at 0.8.

Figure 6.12 Variable Importance Plot 

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