Question: 2. Review the correlation matrix below. Which variables are highly correlated? Quarterly Guarantee Price Age 08 04 Mfg Month KM HP Tax Weight Period Price

2. Review the correlation matrix below. Which variables are highly correlated? Quarterly Guarantee Price Age 08 04 Mfg Month KM HP Tax Weight Period Price 1.00 Age 08 04 -0.88 1.00 Mfg Month -0.02 -0.12 1.00 KM -0.57 0.51 -0.02 1.00 HP 0.31 -0.16 -0.04 -0.33 1.00 Quarterly Tax 0.22 -0.20 0.03 0.28 -0.30 1.00 Weight 0.58 -0.47 0.00 -0.03 0.09 0.63 1.00 Guarantee Period 0.15 -0.15 0.03 -0.14 0.08 -0.16 -0.01 1.00

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