I am learning for a regression course. For my homework, I was given the residual plot below and I have to analyze it. This is how I interpreted it. I want to know if there are any wrong interpretations.
- Since the variability at each $x$ is not the same, there is non constant variance.
- The residuals are not randomly scattered as a grouping of some kind can be seen and therefore the assumption on residuals are independent is violated.
- Since the residuals are scattered around 0, it can be concluded that the mean of the residuals is 0.