Residual Analysis: Checking Regression Assumptions (Diagnostic Plots Explained)

Learn how to validate your Linear Regression models using Residual Analysis! 📊 In this video, we break down the 4 key assumptions of linear regression (Linearity, Independence, Normality, and Equal Variance) and show you exactly how to check them using standard diagnostic plots. We cover: - What are Residuals? - The 'LINE' Assumptions - How to read a Residuals vs Fitted plot - Understanding the Normal Q-Q Plot - Detecting Heteroscedasticity with Scale-Location plots - Finding influential outliers with Cook's Distance Mastering these checks ensures your statistical models are robust and tru…