I am new to Machine Learning and facing a situation in which how to remove multiple independent variables in multiple linear regression. Steps I have gone through: 1) Read Dataset 2) separate into X and Y 3)Encode the categorical data as Dataset contains column : prof rank, profession etc... 4) Remove Dummy variable 5)OLS regression results.
I had 7 independent variables, after OLS ,I have 6 independent variables.Removed by P > 0.05 as P-value is greater than 0.05 significance level.
Can you suggest what are the steps to plot the graph with removing all unnecessary independent variables as attached in the image?. How to get just ONE independent variable from all these variables.
How to check multi-collinearity using python? What is VIF and how to use it to detect multi-collinearity
Thanks in advance. Sorry for grammmer mistakes if any.