The following correlation matrix contains simple correlation coefficients between pairs of variables using base year data. Discuss the possible question of which explanatory variables X should be included in linear multiple regression model. 2. The following correlation matrix contains simple correlation coefficients between pairs of variables using base year data. Discuss the possible question of which explanatory variables X should be included in linear multiple regression model. Y X1 X2 X3 X4 Y 1.00 0.32 0.32 0.95 0.95 X1 X2 1.00 0.25 0.19 0.03 1.00 0.99 0.33 X3 1.00 0.55 X4 1.00

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The following correlation matrix contains
simple correlation coefficients between pairs
of variables using base year data. Discuss the
possible question of which explanatory
variables X should be included in linear
multiple regression model.
2. The following correlation matrix contains simple correlation coefficients between
pairs of variables using base year data. Discuss the possible question of which
explanatory variables X should be included in linear multiple regression model.
Y
XI
X2
0.32
X3
X4
Y
1.00
0.32
0.95
0.95
X1
1.00
0.25
0.19
0.03
X2
1.00
0.99
0.33
X3
1.00
0.55
X4
1.00
Transcribed Image Text:The following correlation matrix contains simple correlation coefficients between pairs of variables using base year data. Discuss the possible question of which explanatory variables X should be included in linear multiple regression model. 2. The following correlation matrix contains simple correlation coefficients between pairs of variables using base year data. Discuss the possible question of which explanatory variables X should be included in linear multiple regression model. Y XI X2 0.32 X3 X4 Y 1.00 0.32 0.95 0.95 X1 1.00 0.25 0.19 0.03 X2 1.00 0.99 0.33 X3 1.00 0.55 X4 1.00
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