The data in the accompanying table include the appraised value, land area of the property in acres, and age, in years, for a small sample of 30 single-family homes in a small city. Perform a multiple regression analysis to predict appraised value based on land area of the property (X,) and age, in years, (X,) and determine the VIF for each independent variable in the model. Is there reason to suspect the existence of collinearity? E Click the icon to view the data table. Determine the VIF for each independent variable in the model. Table of Data VIF, =D VIF2 =O (Round to three decimal places as needed.)

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The data in the accompanying table include the appraised value, land area of the property in acres, and age, in years, for a small sample of 30 single-family homes in a small city. Perform a multiple regression analysis to predict appraised value based on
land area of the property (X,) and age, in years, (X2) and determine the VIF for each independent variable in the model. Is there reason to suspect the existence of collinearity?
Click the icon to view the data table.
Determine the VIF for each independent variable in the model.
i
Table of Data
VIF, =D VIF2 = I
(Round to three decimal places as needed.)
Appraised Land Area
(acres)
0.4471
0.5122
Age
Value
227.8
36
548.8
95
501.5
201.3
0.5545
35
0.3429
84
0.4458
0.5188
648.8
34
670.4
74
720.4
0.2199
91
796.3
0.3161
53
233.3
0.6386
68
289.6
0.5356
35
217.1
0.2729
50
593.2
0.3411
49
433.1
0.1324
28
580.3
0.2306
41
207.4
0.3759
67
277.7
0.4617
14
370.9
0.0879
59
783.4
0.1541
51
272.5
0.6929
48
605.3
0.5545
50
0.2594
0.4588
594.2
8.
636.9
70
462.8
0.1473
59
761.5
0.5344
0.1091
40
363.3
68
789.6
435.4
0.6673
0.3768
0.2918
14
86
Enter your answer in the edit fields and then click Check Answer.
648.3
75
721.6
0.2024
76
1 part
remaining
770.5
0.4662
10
Check Answer
Transcribed Image Text:The data in the accompanying table include the appraised value, land area of the property in acres, and age, in years, for a small sample of 30 single-family homes in a small city. Perform a multiple regression analysis to predict appraised value based on land area of the property (X,) and age, in years, (X2) and determine the VIF for each independent variable in the model. Is there reason to suspect the existence of collinearity? Click the icon to view the data table. Determine the VIF for each independent variable in the model. i Table of Data VIF, =D VIF2 = I (Round to three decimal places as needed.) Appraised Land Area (acres) 0.4471 0.5122 Age Value 227.8 36 548.8 95 501.5 201.3 0.5545 35 0.3429 84 0.4458 0.5188 648.8 34 670.4 74 720.4 0.2199 91 796.3 0.3161 53 233.3 0.6386 68 289.6 0.5356 35 217.1 0.2729 50 593.2 0.3411 49 433.1 0.1324 28 580.3 0.2306 41 207.4 0.3759 67 277.7 0.4617 14 370.9 0.0879 59 783.4 0.1541 51 272.5 0.6929 48 605.3 0.5545 50 0.2594 0.4588 594.2 8. 636.9 70 462.8 0.1473 59 761.5 0.5344 0.1091 40 363.3 68 789.6 435.4 0.6673 0.3768 0.2918 14 86 Enter your answer in the edit fields and then click Check Answer. 648.3 75 721.6 0.2024 76 1 part remaining 770.5 0.4662 10 Check Answer
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