I started with BigMart Problem with the intent of Learning and need help in interpreting these residual plot(lm model).
For the model, I removed all Outlet_Identifier factors/Item_Identifier/Item_Weight/Item_MRP (high correlation with price_per_unit_wt)and Outlet_Establishment_year ,in the lm call ,while building the lm model
Though wrt RMSE model seems ok …model RMSE=1132.719 vs baseline rmse:1706.4 . output of car::vif seems ok too(though I have variable with vif between 4-7, I Need help to verify the residual plots (attached) . Just want to confirm that my interpretation of the plot is correct as this is the first time I am using residual plots besides adjusted r2/p-values
PFA the residual plots for lm model for sales Big Mart problem
Residual Plot_bigMartSalesPrediction_SimplelmModel.pdf (926.2 KB)