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Autocorrelation & Multicollinearity

Define autocorrelation in the following terms:
a. In which type of regression is it likely to occur?
b. What is the negative impact of autocorrelation in a regression?
c. Which method is used to determine if it exists?
d. If found in a regression, how is autocorrelation eliminated?

Define multicollinearity in the following terms:
a. In which type of regression is likely to occur?
b. What is the negative impact of multicollinearity in a regression?
c. Which method is used to determine if it exists?
d. If multicollinearity is found in a regression, how is it eliminated?

Solution Summary

The solution provides information on Autocorrelation and Multicollinearity. The solution also provides its negative impact in regression and the method of elimination if found in regression.

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