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Unformatted text preview: against the residuals error terms and look for a pattern: Note heteroskedasticity is most often associated with cross sectional data Two types of data: Time series (data collected over a period of time) over a series of times Cross sectional (data collected over a single time period across a group of individuals) YOU ARE RESPONSIBLE FOR KNOWING THE FOLLOWING: What the problem is, its EFFECT and its DETECTION 3. Correction Use generalized least squares (deals with the topic of econometrics )...
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This note was uploaded on 06/03/2009 for the course ECON 203 taught by Professor Casler during the Spring '09 term at Allegheny.
- Spring '09