(a) State in algebraic notation and explain the assumption about the CLRM”s disturbances th 1 answer below »

(a) State in algebraic notation and explain the assumption about the CLRM’s disturbances that is referred to by the term ‘homoscedasticity’.

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(b) What would the consequence be for a regression model if the errors were not homoscedastic?

(c) How might you proceed if you found that

(b) were actually the case?