Your question is Econometrics: Regression Foundations. Take a moment with it on the right.
Talk me through your thinking if you like. When you're confident, submit your answer and I'll grade it like a real screen (7/10 or better passes).
Explain regression assumptions, how you check for multicollinearity with VIF, and how you handle autocorrelation.
Discuss the assumptions behind ordinary least squares, the diagnostic tests or plots you would use, and how violations affect inference and prediction. Show how VIF is calculated and interpreted, then distinguish detection from remedies for autocorrelation. State when transformations, robust standard errors, generalized least squares, or time-series models would be appropriate.