What is the assumption of normality in residual analysis?
- The coefficients of the regression line are normally distributed
- The dependent variable is normally distributed
- The independent variables are normally distributed
- The residuals are normally distributed
The assumption of normality in residual analysis states that if we draw a large number of samples and create a distribution of the sample means, this distribution will be well approximated by a normal distribution. This is necessary to make inferences about the regression coefficients and to calculate prediction intervals.
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