Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...
Residual plots can be used to validate assumptions about the regression model. Figure 1: Residual plots are helpful in assessments of nonlinear trends and heteroscedasticity. A formal test of lack of ...
The difference-from-nominal chart should be accompanied by a test that checks whether the variances for each product type are identical (homogeneous). Levene's test of homogeneity is particularly ...