Linear Regression Model-Part 2

Output Plot 1: Residuals v/s Fitted Values
Output Plot 2: QQ plot for the Residuals
Output Plot 3: Scale-Location Plot
Output Plot 4: Residuals vs Leverage Plot

Limitations of the Model Fit

You might notice some inefficiencies in the model fit, due to the lack of sufficiently large data. Once we have a large and somewhat exhaustive dataset to all the situations, we can obtain a much better estimate and much better fit of the models. This also increases the type of the diagnostics plot of the model, making the assumptions of the linear regression decently valid.

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