SCENARIO 15-7-A
You Are the CEO of a Dairy Company $\left( X _ { 1 } \right)$

question 19

Short Answer

SCENARIO 15-7-A
You are the CEO of a dairy company. You are planning to expand milk production by purchasing
additional cows, lands and hiring more workers. From the existing 50 farms owned by the company,
you have collected data on total milk production (in liters), the number of milking cows, land size (in
acres) and the number of laborers. The data are shown below and also available in the Excel file
Scenario15-7-DataA.XLSX. You believe that the number of milking cows $\left( X _ { 1 } \right)$ , land size $\left( X _ { 2 } \right)$ and the number of laborers $\left( X _ { 3 } \right)$ are the best predictors for total milk production on any given farm.
-Referring to Scenario 15-7-A, the value of the variance inflationary factor of the number of
laborers is _____.

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Definitions:

Canada

A country located in the northern part of North America, known for its multicultural population and diverse landscapes.

Monoculture

The cultivation of a single crop in a given area, or a cultural lack of diversity due to the dominance of a single social or cultural group.

Homogeneity

The condition of everything being identical or of a single type.

Argentina

A country located in the southern half of South America, known for its diverse landscapes from the Andes mountains to the Pampas grassland, as well as its rich cultural heritage, including tango music and dance.