Dear all,
I am elaborating on my diploma thesis, which is devoted to factors that influence a success of projects on reward-based crowdfunding campaign.
The dependent variable is binary, i.e. equal to 1 if the project campaign successful and 0 if not.
Before that, I plan to use BMA framework (using bms package in R) to determine, which set of regressors should be included in the model. Afterwards, I will estimate logit as a robustness check.
N(# of projects)=2,870
My question is, which transformation of Y in order to gain normal distribution (which is vital for BMA application) would you recommend to use?
is it OK just to use this method?
y-mean(y)/ 2std.dev
Thank you very much for your help!
Tereza