A residual plot is a type of plot that displays the values of a predictor variable in a regression model along the x-axis and the values of the residuals along the y-axis. This plot is used to assess whether or not the residuals in a regression model are normally distributed and whether or not they exhibit heteroscedasticity. Heteroscedasticity means that the variance of the residuals is not constant across different values of the predictor variable. This violates one of the assumptions of linear regression and can lead to biased estimates and unreliable predictions. The displayed residual plot shows a clear pattern of heteroscedasticity, as the residuals spread out as the fitted values increase. This indicates that linear regression is inappropriate for this data and a different model should be used. References:
Regression - Amazon Machine Learning
How to Create a Residual Plot by Hand
How to Create a Residual Plot in Python
Contribute your Thoughts:
Chosen Answer:
This is a voting comment (?). You can switch to a simple comment. It is better to Upvote an existing comment if you don't have anything to add.
Submit