How to determine thresholds (small, medium or large change) for the level of difference per year ?
I would like to establish tresholds for the level of difference per year such that I can classify my numerical values in small-, medium-, large change. So that I can conclude what the influence of OCVID-19 is based on my attributes.
However, I have the following obstacles:
- I want to determine thresholds for my data to classify this as small—medium-large change. But, I do not know how to do this using the dataset? And whether I have to plot some kind of graph wherein I can do this?
- Furthermore, the annual difference can be either negative or positive. However, when I use the classification small-medium-large, I cannot define if it is a negative change or positive. How can I resolve this issue? I was thinking about adding an extra attribute to the small-medium-large classification with either positive or negative, however, would this negatively impact if I am going to make a prediction model? Or is there a better way to do this?
- Also, which operators do I have to use for the problems mentioned above?