What are some effective ways to use data visualization to explore heteroscedasticity?
Heteroscedasticity is a fancy word that means the variance of a variable is not constant across different values of another variable. For example, the income of a population may have more variation at higher levels than at lower levels. This can affect the validity and efficiency of some statistical methods, such as linear regression, that assume homoscedasticity or equal variance. How can you detect and explore heteroscedasticity in your data? One of the most effective ways is to use data visualization techniques that can reveal the patterns and relationships of your variables. In this article, you will learn some of the best practices and tools for using data visualization to explore heteroscedasticity.