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VIF is the abbreviation of variance inflation factor which is a measure of the amount of multicollinearity that exists in a set of multiple regression variables.
*The VIF value being above the upper limit of 10 suggest that there is severe multicollinearity
The VIF Equation:
The VIF value is below the upper limit of 10 (1.353 < 10) therefore it reveals that Wfood is not strongly correlated with the other independent variables and there is no multicollinearity.
an oil company is considering whether or not to bid for an offshore drilling contract. The bid would cost $60 with a 65% chance of gaining the contract. Outcome success Probability
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Ask quesoil company is considering whether or not to bid for an offshore drilling contract. If they bid, the value would be $600m with a 65% chance of gaining the contract. The com
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