What assumption about the residuals of a linear regression model does homoscedasticity refer to?
- The residuals are independent
- The residuals are normally distributed
- The residuals have a linear relationship with the dependent variable
- The residuals have constant variance
Homoscedasticity refers to the assumption that the residuals (errors) have constant variance at each level of the independent variable(s). This is important for the reliability of the regression model.
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