I have a sample of 347 subjects. While diagnosing the fitted regression model, I observed a minor bump (on the positive side) over the 45-degree line on the PP plot. When I conducted two of the formal tests available in SPSS, they rejected the null hypothesis that the data is from a normal distribution.
The normality violation, if I understand correctly, has little effect on estimated-betas in a large sample. Is my sample size of 347 big enough to ignore violation of normality of residuals?
If yes, may I ask for a few solid references I can use as justification? If no, can I still bypass transforming my DV and report bootstrapped parameters?
PS:- My study is on consumer behavior. The objective of my analysis is more to understand the relationship between my IVs and DV, and less about prediction.
Adding diagnostic plots.....