Discover the importance of homoskedasticity in regression models, where error variance is constant, and explore examples that illustrate this key concept.

Forecasting models predict the future values of a series using two sources of information: the past values of the series and the values of other time series variables. Other variables used to predict ...

Decision trees are a simple but powerful prediction method. Figure 1: A classification decision tree is built by partitioning the predictor variable to reduce class mixing at each split. Figure 2: ...

Predictor variables that have just two possible values (binary predictors) are commonly encoded in one of three ways. Suppose you have a predictor variable sex which can be male or female. You can use ...

Linear regression is a powerful and long-established statistical tool that is commonly used across applied sciences, economics and many other fields. Linear regression considers the relationship ...