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Regression Assumptions

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Based on the text on regression assumptions and your additional research, discuss the potential impact of assumption violation on interpretation of regression results.

Is there any influence of the assumption violation on the business decision making? If so, how? If not, why?

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The Solution addresses the impact of assumption violation within regression results.

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Linear regression is an analysis that assesses whether one or more predictor variables explain the dependent (criterion) variable (Platt and Huettel, 2008). The regression has five key assumptions:
i) Linear relationship
ii) Multivariate normality
iii) No or little multicollinearity
iv) No auto-correlation
v) Homoscedasticity

Often, the impact of an assumption violation on the linear regression result depends on the extent of the violation (such as the how inconstant the variance of Y is, or how skewed the Y population distribution is). Some small violations may have little practical effect on the analysis, while other ...

Solution provided by:
Chris Busu, PhD (IP)
Education
  • BSc, University of Bucharest
  • MSc, Ovidius
  • MSc, Stony Brook
  • PhD (IP), Stony Brook
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