The Scatter Plot and Residual Plot Shown Below Is from a Regression

question 23

Essay

The scatter plot and residual plot shown below is from a regression analysis of Prehistoric Native American projectile points. The widths of the projectiles were regressed on the length of the projectile points. Using these plots categorize each of the Basic Assumptions of the simple linear regression model as one of the following:
a) Not checkable
b) Checked and met
c) Checked and not met
For all assumptions checked, explain what aspect of the graphs led you to your conclusion that the assumption was met or not met.

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Definitions:

Withdrawals

Money taken out from a bank account, or the act of taking out funds from a business by its owners for personal use.

Expenses

Outflows or other uses of assets or incurrences of liabilities during a period from delivering or producing goods, rendering services, or carrying out other activities that constitute the entity's ongoing major operations.

Formal Account

An organized financial record of transactions over a period for an individual, company, or entity, maintained in a structured format.

Standard Account Form

A uniform format for presenting accounting information, typically including assets, liabilities, and equity sections.