Refer to the data in Table 141, which relates the heating cost to the independent variables outside

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Refer to the data in Table 14–1, which relates the heating cost to the independent variables outside temperature, amount of insulation, and age of furnace. Develop a correlation matrix for all the independent variables. Does it appear there is a problem with multicollinearity? Find and interpret the variance inflation factor for each of the independent variables.

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Basic Statistics For Business And Economics

ISBN: 9780077230968

6th Edition

Authors: Douglas Lind, William Marchal, Samuel Wathen

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