Three predictor variables are being considered for use in a linear regression model.Given the correlation matrix below, does it appear that multicollinearity could be a problem?
Definitions:
Warranty Rights
Legal entitlements or protections afforded to consumers, guaranteeing that a product will meet certain standards of performance and quality.
Privity
The direct relationship between parties to a contract, which determines who can sue whom to enforce rights or obligations under the contract.
Title Warranties
Legal guarantees provided by a seller that they have the right to transfer ownership and that the asset is free from liens or encumbrances.
UCC
The Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States, including sales, negotiable instruments, and secured transactions.
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