1. We can detect outliers by reviewing the summary of the associations in the scatterplot matrix.
2. A correlation matrix summarizes the same information in the data as is given in a scatterplot matrix.
3. In order to calculate the VIF for an explanatory variable, we need to use the values of the response.
4. If VIF(X2) = 1, then we can be sure that collinearity has not inflated the standard error of the estimated partial slope for X2.
5. It is not appropriate to ignore the presence of collinearity because it violates one of the assumptions of the MRM.