Haiku to Heteroskedasticity
Some words are quite long
Heteroskedasticity
Is one of those those.*
* = “Those those” because the last line needs five syllables. Haikus aren’t easy to write either.
Paul De Lancey, The Comic Chef, Ph.D.
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Well, what DOES it mean? Do you honestly expect me to look it up? 😉
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It’s a very common word in econometrics. Basically, the variance of the error terms vary with the size of the size of the independent variables. This, in turn, affects the values of the coefficents. You really want homoskedasticy in your error terms. Every once in a while, I have a brief panic attack that I didn’t check sufficiently for heteroskedasticity in my Ph.D. thesis, and that was 36 years ago.
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