Homoscedasticity vs. Heteroscedasticity

Homoscedasticitynoun

(statistics) A property of a set of random variables such that each variable has the same finite variance.

Homoscedasticity

In statistics, a sequence (or a vector) of random variables is homoscedastic if all its random variables have the same finite variance. This is also known as homogeneity of variance.

Heteroscedasticitynoun

(statistics) The property of a series of random variables of not every variable having the same finite variance

Heteroscedasticity

In statistics, a vector of random variables is heteroscedastic (or heteroskedastic; from Ancient Greek hetero and skedasis ) if the variability of the random disturbance is different across elements of the vector. Here, variability could be quantified by the variance or any other measure of statistical dispersion.