Heteroscedasticity (No, that wasn’t a sneeze.) is an actual word that is used in statistics. Heteroscedasticity comes from the Greek and Latin roots Hetero meaning different and skedasis meaning variance or dispersion. Heteroscedasticity (It really is a lot of fun to say.) occurs when the variance of the dependent variables varies across the data. Or in other words when a variable has a wide variety or variance.
An example I found that helped me understand it a little better is income versus expenditure on meals. As one's income increases, the variability of food consumption will increase. A poorer person will spend a rather constant amount by always eating fast food; a wealthier person may occasionally buy fast food and other times eat an expensive meal. Those with higher incomes display a greater variability of food consumption.
I would probably be a variable that has heteroscedasticity. I am not constant and I like a variety of things.
See you learn something new everyday.
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