Homoscedasticity

Homoscedasticity is a statistical concept that refers to the idea that, in a dataset, the variability or spread of the data points remains consistent across different levels of an independent variable. Imagine plotting data points on a graph; if the spread of points around a trend line stays roughly the same regardless of the value, the data is homoscedastic. This consistency is important because many statistical analyses assume it; if the spread varies (called heteroscedasticity), it can affect the accuracy of predictions and conclusions.