Data file XR17069 lists a variety of information for a selection of aircraft. The variables and their units are: operating cost (dollars per hour), number of seats, speed (mph), flight range (miles), and fuel consumption (gallons per hour). Considering operating cost per hour as the dependent variable, construct and interpret the correlation matrix for the possible predictor variables. Does it appear that multicollinearity could be present? For y = operating cost per hour, perform a stepwise regression analysis using the other variables as predictors and interpret the results. How much of the variation in operating costs is explained by the model?
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