Multicollinearity refers to a situation in multiple regression analysis where two or more independent variables are highly correlated with each other. This high correlation can lead to difficulties in estimating the coefficients of the regression model accurately. When multicollinearity is present, the following issues can occur: 1. **Inflated Standard Errors**: The presence of multicollinearity increases the standard errors of the coefficient estimates, which can make it harder to determine the significance of individual predictors.
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