To determine what satisfying assumptions 1-3 would mean by considering the variable under consideration.
The regression-inference Assumptions 1-3 must be satisfied if β°, β¹ and σ are constants, which ensures the x dimensions and price of every custom home to be normal, with β° + β¹ and a σ standard deviation.
The residuals should not be linear if the normal probability plot is followed.
In the diagram above, the assumptions for regression inferences appear to be unsatisfactory.
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