Statistics Solutions

(Steps Shown) A concern of some of the above regressions is that MSRP_Amt may be highly correlated with some of the other independent variables. To test to see

Question: A concern of some of the above regressions is that MSRP_Amt may be highly correlated with some of the other independent variables. To test to see if multicollinearity is a serious problem, the following results are from a regression where the dependent variable is MSRP_Amt and the independent variables are some of the other independent variables mentioned above

Below is the regression of MSRP on the other independent variables.

  1. Calculate the VIF for MSRP. (5)
  2. Based on the VIF, do you think that multicollinearity is a problem? Explain. (10)

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