You have created your first Linear Regression Model. Have you validated the assumptions?

With the dawn of the age of Data Science, there is an increased interest in learning and applying algorithms, not just by business analysts or data scientists, but by several other professionals whose core job may not be crunching data or building models. Good sign, indeed, if one understands the when, why and how of applying these fantastic techniques. If your scatterplot shows curvilinear relationship, keep in mind that higher order polynomials (2 or above) may do a better job at modelling the data. Compare models, statistics and decide for yourself which model best explains your data. For validity of a LR model, the VIF (Variance Inflationary Factor) should not be too high. How high is too high?