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

question 3

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:

Selling and Administrative Expense

Costs related to the selling of products and the administration of a business.

Budgeted Unit Sales

The projected amount of sales in units that a company plans to achieve in a specific period.

Cash Disbursements

Payments made in cash by a business for various purposes, including operating expenses, asset purchases, and debt repayments.

Variable Overhead Rate

The rate at which variable overhead costs are applied to units of production, based on an activity metric such as labor hours.