I start with 9 independent variables in my linear regression. However, I find that the overall F test value is not having significant P value and some variables are highly correlated.
Thus I discarded five independent variables and get both significant P value for the overall F test and no multicolinearity.
However, I am a bit afraid whether I am having any problem like omitted variable bias although I really like the result I have.
If there are no other additional variables I can use more, can I use this result for my work or should there be something done for this to be fixed?