What does that mean by "a linear dependence exists among three or even more variables" in multicollinearity?
Can somebody explain it in plain English?
What does that mean by "a linear dependence exists among three or even more variables" in multicollinearity?
Can somebody explain it in plain English?
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Exactly what they say : the variables are not independent since some of them are just linear combinations of other.
May I suggest you have a look at http://en.wikipedia.org/wiki/Multicollinearity ?