Data collected from several entities over several time periods is ...

[torybrooks]

Data collected from several entities over several time periods is
 a. categorical and quantitative data.
  b. time series data.
  c. source data.
  d. cross-sectional data.

Question 2

Discuss residual analysis in terms of the assumptions required for using the multiple regression model.

[Perkypinki]

Answer to Question 1

B

Answer to Question 2

Residual analysis can be used to examine the residuals with respect to the assumptions underlying multiple regression analysis. We can do many things with residual analysis, including: (1) constructing a histogram of the residuals as a rough check to see if they are approximately normally distributed, (2) constructing a normal probability plot or applying the Lilliefors test to examine whether the residuals could have come from a normally-distributed population, (3) plotting the residuals versus each of the independent variables to see if they exhibit some cycle or pattern with respect to that variable, and (4) plotting the residuals versus the order in which the observations were recorded to look for auto-correlation.

[torybrooks]

Thanks for the timely response, appreciate it

[Perkypinki]

TYSM