Below you will find a scatterplot of data gathered by an online retail company. The company has been able to obtain the annual salaries of their customers and the amount that each of these customers spent on the company's site last year. Based on the scatterplot below, would you conclude that these data meet all four assumptions of regression? Explain your answer.
Definitions:
Cartel
An association of manufacturers or suppliers with the purpose of maintaining prices at a high level and restricting competition.
Marginal Cost
The increase in total cost that arises from producing an extra unit of output.
Fixed Cost
Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance.
Cartel
An agreement among competing firms to control prices or exclude entry of a new competitor in a market, often to maximize their profits illegally or unethically.
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