Consider the following set of dependent and independent variables. These data can also be found in the Excel file Prob 1541.xlsx.

y 10 11 15 15 20 24 27 32 26 39 x1 2 5 5 9 7 11 16 20 39 21 x2 16 10 13 10 2 8 7 4 8 5 x3 7 15 9 12 18 17 23 20 27 30 Using PHStat, check for the presence of multicollinearity.

If multicollinearity is present, take the necessary steps to eliminate it.

AppendixLO1