ABSTRACT
One of the basic assumptions of the standard OLS model is that the error terms are homoscedastic in that they have a constant variance for all values of X. The assumption can be expressed as https://www.w3.org/1998/Math/MathML"> σ X t 2 = σ X j 2 https://s3-euw1-ap-pe-df-pch-content-public-p.s3.eu-west-1.amazonaws.com/9780203182567/e5b0bbe2-80ca-4bfe-8c10-2dcc3463eb6d/content/ch7_page230-01_B.tif" xmlns:xlink="https://www.w3.org/1999/xlink"/>
