So I have an ordinal variable score that I'm treating as though it's interval. It's a scale of scores from 1 - 5 , with 3 being "average", 4 being "above average", and 5 being "most skilled". (Average and above average are just labels here; the scores were given as a comparison to a wider population. The true average is 3.02, and the distribution is almost symmetrical, but not perfectly.)
What are the advantages and disadvantages of converting this to standard units? And how would I do that in Stata? I'm trying to regress it with dummies for different group characteristics.
What are the advantages and disadvantages of converting this to standard units? And how would I do that in Stata? I'm trying to regress it with dummies for different group characteristics.