I am currently working on a research project based on the data of a big survey. I derived a variable set, which I would like to investigate. Before starting with it, I would like to check the assumptions of the OLS.
I read quite a bit about these assumptions but I am still not sure how I can interpret my output. I am currently hanging on the assumption "errors are normally distributed" I read that this assumption is not important if the sample size is big enough. Is it correct in this case? What would be your interpretation of the model's output and my attached plots? Is it enough to test the assumption?
I can´t do a log transformation of my DV as it ranges from 0 to 26 and I obviously would lose the observations which contain 0.