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What does multicollinearity mean?

Looking for the meaning or definition of the word multicollinearity? Here's what it means.

Noun
  1. (statistics) A phenomenon in which two or more predictor variables in a multiple regression model are highly correlated, so that the coefficient estimates may change erratically in response to small changes in the model or data.
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Examples
Although not reported, the study's findings do not indicate high multicollinearity among cluster variates.
Results of tests of outliers and assumptions of normality, homogeneity of variance-covariance matrices, linearity, and multicollinearity were satisfactory.

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