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What is heteroscedasticity?
variables
How can Heteroscedasticity be detected and removed?
There are various tests for heteroscedasticity. For bi-variate data the easiest is simply plotting the data as a scatter graph. If the vertical spread of the data points is broadly the same along its range then the data are homoscedastic and if not then there is evidence of heteroscedasticity. Heteroscedasticity may be removed using data transformations. The appropriate transformation will depend on the data and there is no general transformation that will work in all instances.
Are heteroscedasticity robust standard errors consistent?
The answer depends on consistent with WHAT!
What is heteroscadacity?
In regression analysis , heteroscedasticity means a situation in which the variance of the dependent variable varies across the data. Heteroscedasticity complicates analysis because many methods in regression analysis are based on an assumption of equal variance.
How can one detect heteroscedasticity in a dataset?
Heteroscedasticity in a dataset can be detected by visually inspecting a scatter plot of the data or by conducting statistical tests such as the Breusch-Pagan test or the White test. These tests help determine if the variance of the errors in a regression model is not constant across all levels of the independent variables.
In the presence of heteroscedasticity OLS estimators are biased as well as inefficient?
They are still unbiased however they are inefficient since the variances are no longer constant. They are no longer the "best" estimators as they do not have minimum variance
What is heteroscedasticity and autocorrelation of the error term?
A sequence of variables in which each variable has a different variance. Heteroscedastics may be used to measure the margin of the error between predicted and actual data.
What are the main branches of statistics?
The two main branches of statistics is Descriptive statistics and inferential statistics.
Types of statistics?
There are two types of statistics. One is called descriptive statistics and the other is inferential statistics. Descriptive statistics is when you use numbers. Inferential statistics is when you draw conclusions or make predictions.
What is the definition for Psychological Statistics?
Psychological statistics is the application of statistics to psychology.
Distinguish between statistics plural and statistics singular?
The statistics (pl.) indicate that statistics (sing.) is a pseudo-science.
What is differential statistics?
Differential statistics are statistics that use calculus. Normally statistics would use algebra but differential statistics uses calculus instead of algebra.
