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 X1 and​ ag

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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 X1 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?

Determine the VIF for each independent variable in the model.

0.1098
713.7
0.6493
16
618.1
0.6189
82
681.9
0.6154
39
331.9
0.6939
71
304.1
0.2875
58
268.2
0.6072
25
498.2
0.2014
41
509.9
0.5269
6
235.1
0.2237
63
341.3
318.2
508.9
525.3
206.2
0.6767
100
30
0.5492
0.4053
0.5583
67
18
0.0926
43
745.4
0.6693
83
636.7
243.9
304.6
0.3909
74
0.1961
39
0.6243
35
590.1
0.1318
99
279.1
0.4251
26
749.2
0.2411
45
737.9
0.4189
11
445.2
0.4175
12
383.2
0.2248
16
501.6
0.3954
75
755.4
0.1799
35
334.4
0.4935
21
713.5
0.3028
65
Transcribed Image Text:0.1098 713.7 0.6493 16 618.1 0.6189 82 681.9 0.6154 39 331.9 0.6939 71 304.1 0.2875 58 268.2 0.6072 25 498.2 0.2014 41 509.9 0.5269 6 235.1 0.2237 63 341.3 318.2 508.9 525.3 206.2 0.6767 100 30 0.5492 0.4053 0.5583 67 18 0.0926 43 745.4 0.6693 83 636.7 243.9 304.6 0.3909 74 0.1961 39 0.6243 35 590.1 0.1318 99 279.1 0.4251 26 749.2 0.2411 45 737.9 0.4189 11 445.2 0.4175 12 383.2 0.2248 16 501.6 0.3954 75 755.4 0.1799 35 334.4 0.4935 21 713.5 0.3028 65
Appraised Land Area
(acres)
0.1858
0.1098
Age
Value
387.7
98
602.7
16
0.6493
0.6189
0.6154
0.6939
713.7
16
618.1
82
681.9
39
331.9
304.1
268.2
498.2
71
0.2875
58
0.6072
25
0.2014
41
0.5269
0.2237
0.6767
509.9
6
235.1
63
341.3
100
318.2
0.5492
30
508.9
525.3
0.4053
67
0.5583
18
206.2
0.0926
43
745.4
0.6693
83
636.7
0.3909
74
243.9
0.1961
39
304.6
0.6243
35
590.1
0.1318
99
279.1
0.4251
26
749.2
0.2411
45
737.9
0.4189
11
445.2
0.4175
12
383.2
0.2248
16
Transcribed Image Text:Appraised Land Area (acres) 0.1858 0.1098 Age Value 387.7 98 602.7 16 0.6493 0.6189 0.6154 0.6939 713.7 16 618.1 82 681.9 39 331.9 304.1 268.2 498.2 71 0.2875 58 0.6072 25 0.2014 41 0.5269 0.2237 0.6767 509.9 6 235.1 63 341.3 100 318.2 0.5492 30 508.9 525.3 0.4053 67 0.5583 18 206.2 0.0926 43 745.4 0.6693 83 636.7 0.3909 74 243.9 0.1961 39 304.6 0.6243 35 590.1 0.1318 99 279.1 0.4251 26 749.2 0.2411 45 737.9 0.4189 11 445.2 0.4175 12 383.2 0.2248 16
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