Genpact Interview Question: What exactly does the error term in regression represent? Explain homoscedasticity in this context- what exactly does it mean, in lay man's terms?

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What exactly does the error term in regression represent? Explain homoscedasticity in this context- what exactly does it mean, in lay man's terms?

Anonymous

Nov 2, 2012

You would need to explain the way you would, to a non-technical person. That shows how well you know it.