What are some common mistakes in regression analysis?
An example of an AI chatbot conversation about common regression mistakes.
What are some common mistakes in regression analysis?
Some common mistakes include ignoring multicollinearity, not checking for outliers, and failing to validate the model.
Can you explain multicollinearity and why it's a problem?
Multicollinearity occurs when independent variables are highly correlated, making it hard to determine their individual effects.
How can I detect multicollinearity in my data?
You can use Variance Inflation Factor (VIF) to detect multicollinearity. A VIF above 10 indicates a problem.
What should I do if I find multicollinearity?
You can remove one of the correlated variables, combine them, or use techniques like ridge regression.
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