Six Points Have These Coordinates: the Normal Probability Plot

question 38

Essay

Six points have these coordinates: The normal probability plot and the residuals versus fitted values plots generated by Minitab are shown below. Does it appear that any regression assumptions have been violated?
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Explain.
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Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers at various prices.

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity of the good that suppliers are willing to sell.

Perfectly Inelastic Demand

A situation in which the demand for a product does not change as the price changes.

Perfectly Elastic Supply

describes a market situation where the quantity supplied can change infinitely in response to any change in price.