The Tasty Sub Shop Case: For the model relating Revenue to Population and Business

The Tasty Sub Shop Case: For the model relating Revenue to Population and Business

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September 3, 2023
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For each of the following cases, use the indicated residual plots to check for any violations of the regression assumptions.
a The Tasty Sub Shop Case: For the model relating Revenue to Population and Business Rating, use the following plots:
b The Natural Gas Consumption Case: For the model relating GasCons to Temp and Chill, use the plots shown on pages 591 (in Appendix 14.2) and 594 (in Appendix 14.3).

Answer and ExplanationSolution by a verified expert

a
Explanation
A regression model is suitable for a data ,if the points in a residual plot are randomly dispersed around the horizontal axis.For the given plots there is no patterns like fanning out,funneling in,curved;the points are randomly dispersed.This indicates that the assumptions such as constant variance,independent observations, no outliers are satisfied for the data.Hence,this data is fit for doing regression.

Verified Answer
There is no violations in regression assumptions according to the residual plots.

b
Explanation
We need to use the plots for the comparison of the models.

In both the plots there is a randomness in the residual plots.The plots did not has any patterns.So,the assumptions of regression like constant variance,independence of observations will hold by the models.So,the data is fit for regression analysis.

Verified Answer
Using the plot that are described in the questions we can make a conclusion for the model relating GasCons to temperature and chill.

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