Consider a regression model for per capita income y. The explanatory variables consist of the percentage of the population in the United States that is (a) without a high school diploma x1, (b) foreign born x2, and (c) non-English speaking x3. The accompanying table shows a portion of the data; the entire data set, labeled PerCapita, can be found on the text website.

a. Estimate and interpret the regression model, y = β0 + β1x1 + β2x2 + v3x3 + ε.
b. Do you suspect multi-co-linearity in the model? Use sample data toconfirm.

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Per Capita No High Foreign No State Income School Born English Alabama | $22,984 18.6% | 3.4% | 4.9% Alaska 30726 9.3 7.2 16.5 27860 8.7 3.1 6.7