The conclusion the residuals have an increasing variance as the dependent variable increases is correct.
What is scatter chart?
Charts that depict the relationship between two variables are known as scatter charts, also known as scatter plots. They are a very effective type of chart because they enable viewers to see relationships or trends right away that are difficult to see in almost any other form.
In order to observe and visually display the relationship between variables, a scatter plot is a common type of chart. Other names for it include scatter gram, scatter graph, and scatter chart.
The conclusion can be drawn from the scatter chart is,
The residuals have an increasing variance as the dependent variable increases.
There is a violation of the homoskedasticity (homogeneity of variance for residuals) assumption.
The given plot is used to check the assumption for homoskedasticity (homogeneity of variances) of data points.
Hence if the homoskedasticity assumption hold, the spread of data points should be along the line and the line should be approximately horizontal.
From the given plot we can see that spread is centered at the middle not equally distributed along the line which is a violation of the homoskedasticity assumption
Hence, the conclusion the residuals have an increasing variance as the dependent variable increases is correct.
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The scatter chart is attached below.
