Briefly Discuss Approaches That Can Be Employed in Situations Where

question 162

Essay

Briefly discuss approaches that can be employed in situations where multicollinearity is detected.

---

Definitions:

Data

Information collected for reference or analysis, often numeric or categorical, used in making decisions or evaluating conditions.

Variance

A measure of the dispersion of a set of data points around their mean, indicating how spread out the data points are.

Data

Facts and statistics collected together for reference or analysis, often seen as the basis for decision making or scientific research.

Sum of Squared Scores

The total obtained by squaring each deviation from the mean in a set of scores and then summing these squares, used to measure data variability.