Describe a fictional example and generate a small data set in which data are heteroscedastic and...

Describe a fictional example and generate a small data set in which data are heteroscedastic and you need to apply a GLS.

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Expert Solution

One example is when the independent variable is the monthly income of a person in $ and the dependent variable is the expenses on food. We think that in general as the income of a person increases he tends to use more money on food expenses with significant variability. The following is illustrated via the plot shown below.

The R code

And here is the plot

orchestra answered 1 year ago

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