For conjoint attribute importance calculation, should insignificant attribute levels be included in the calculation?

In the output for Choice-based conjoint, there are some significant and some insignificant output utilities. When calculating attribute importance (using the difference formula), should I exclude insignificant variables? Or should the calculation include all variables regardless of statistical significance?

Cross Validated Asked by arctan27 on November 21, 2021

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One Answer

The difference formula gives a point estimate snapshot and as such is not a statistical tool. Therefore you should use all variables, even the ones with insignificant coefficients.

See example here, where there are some attributes with very low scores (and likely insignificant coefficients):

Answered by k-zar on November 21, 2021

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