Definitions from the Web
Heteroscedasticity
Definition:
Heteroscedasticity refers to a statistical phenomenon where the variability of a variable's error terms, or residuals, differs across the range of values of an independent variable.
Senses and Usages:
Statistical Sense:
In statistics, heteroscedasticity occurs when the variation in the residuals of a regression model is not constant across different levels of the independent variable. It violates the assumption of homoscedasticity, where the residuals have constant variance.
Example Sentence: The scatterplot revealed the presence of heteroscedasticity, indicating that the assumption of equal variances across the predictor variables was violated.
Popular Sense:
Heteroscedasticity is commonly referred to in popular discussions as the phenomenon of unequal scatter or variation in a data set, indicating that the spread of data points changes as the value of the independent variable changes.
Example Sentence: The popular belief suggests that heteroscedasticity in real estate prices often occurs due to differences in neighborhood desirability and housing conditions.
Local Sense:
In local contexts, heteroscedasticity may refer to the specific manifestation of the statistical phenomenon within a particular region or subset of data.
Example Sentence: The local study analyzing educational outcomes found evidence of heteroscedasticity among students belonging to rural areas, indicating differing factors affecting academic performance.
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