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6: Create a scatterplot of the residuals (y-axis) versus the lagged residuals (x-axis). Select the best option to determine why this plot suggests a dependence
6: Create a scatterplot of the residuals (y-axis) versus the lagged residuals (x-axis). Select the best option to determine why this plot suggests a dependence in time (also called serial correlation) in the residuals. To create a column of Lag Residual, follow the steps below: Add a new column in JMP. Right click on the column and select Formula. Under Functions, Select Row and scroll to Lag. Click on the Residuals saved from the model estimate in part (2). Click OK. Rename the column "Lag Residuals". . Next, create a scatterplot of the Residuals versus the Lag Residuals. Be sure to save the estimated regression line. After saving the line, be sure to save the Predicted values. There is a weak positive linear relationship between the residuals and the lag residuals suggesting serial correlation. O There is no obvious linear relationship between the residuals and the lag residuals suggesting serial correlation. There is a strong positive linear relationship between the residuals and the la
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