Question
How does one reconcile multicolinearity in data once it is found? Chapter 9 mentions two popular choices: ridge regression (i.e., Kriging) and principle components regression.
How does one reconcile multicolinearity in data once it is found? Chapter 9 mentions two popular choices: ridge regression (i.e., Kriging) and principle components regression. Consider the data found in Table B.15 detailing mortality and air pollution on a by city/demographic basis. Following Example 9.3, use principle-components regression in comparison with standard ordinary least squares. Highlight what relationships can be elucidated from the principle components.
Submit your code and any output of the code to include tables and graphs as indicated. Submission of R code can be accomplished by creating a markdown document in RStudio and saving this as a .txt file. Submission of mathematical proofs can be accomplished using Microsoft Word's equation creator, LaTeX, or neatly written work that has been scanned into PDF format. For questions that require a written response, use no fewer than three complete sentences or 50 words.
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