Why Multicollinearity is Lame: A Graphical Demonstration

[@MattBirch]

In the video, the app says this is a "Bivariate Regression." That is a mistake. Bivariate regressions have two dependent variables. This is a multiple regression with two variables. I updated the GitHub code to reflect this change. I did not bother to change the app. Sorry for the inconvenience.

[@syedbadruddoza2046]

Matt, great video, as always!

[@MattBirch]

Thank you much!

[@mlt8923]

nicely done, thanks.

[@MattBirch]

My pleasure! Happy to help!

[@giordanoruggeri4492]

very nice video, thanks!

[@MattBirch]

Glad you like it!

[@justins5756]

Would you say it’s more important for economic students now to spend more time on statistics and using software like r than just getting the diploma.

[@MattBirch]

Today, in mid 2023, I recommend both. The statistics and the practical coding skills are essential for a lot of jobs, and maybe that will replace degree requirements someday. But for now, most jobs still have some sort of education requirement, so you gotta get that diploma. There are exceptions, of course. I am just speaking to the widespread trends I observe.

[@justins5756]

@@MattBirch my school recommends the Econ students to take coding classes and receive a buiness analytics minor. Thanks for the insight 👍

[@MattBirch]

@@justins5756 Yeah it is a good idea to know your coding. If you are going to do anything econ adjacent, you will be dealing with data.