Question: Consider the following set of data:
a. Obtain the estimated regression equation.
b. Develop the correlation matrix for this set of data. Select the independent variable whose correlation magnitude is the smallest with the dependent variable. Determine if its correlation with the dependent variable is significant.
c. Determine if the overall model is significant. Use a significance level of 0.05.
d. Calculate the variance inflation factor for each of the independent variables. Indicate if multicollinearity exists between the two independent variables.