As shown in Table 3 above, it can be seen that VIF range between 3.190 and 4.669 values
which are well-below five. On the other hand, the tolerance values range between 0.215 and
0.313 which are above 0.2. These factors indicate that there is no evidence of
multicollinearity problem in the regression model. In addition to the VIF and tolerance values,
a Correlation Matrix was computed the independent variable dimensions to check correlation
between them as shown in Table 4. According to Sekaran and Bougie (2010), a value of 0.75
and above suggests high correlation between the variables. The results in the above table, are
all below 0.75 and thus do not suggest high correlation between the variables. Therefore,
these findings also show that there is no evidence of multicollinearity problem.