In the published paper $$Futures contracts in water leasing: an experimental analysis using basin characteristics of the Rio Grande, NM$$ the following regression equation outputs were estimated to predict the price per acre foot of a water right: $1.$Assess the predictability of this model. Is it a good model or not, explain in detail why, you should use multiple statistical inference techniques.

$2.$What does the term quantity with its estimated coefficient tell you about the price? Does this make sense?

$3.$What do the terms $1$ month $2$ month and $3$ month futures tell you about the price considering that the omitted variable here is the spot market? Do these three variables make sense in relation to the spot market price?

$4.$One of the main issues with regression is multicollinearity. A variance inflation factor was calculated for each of the variables and produced the following results for a few of the variables$\mathrm{.}5.$ is multicollinearity a problem in this model? Explain why or why not? Should any remediation be done to this model?