Störungsvarianz

Störungsvarianz refers to the variance of the error term in a statistical model, particularly in regression analysis. It represents the unpredictable variability in the dependent variable that is not explained by the independent variables included in the model. In simpler terms, it's the noise or random fluctuations in the data that the model cannot account for. A high Störungsvarianz indicates that the model has a poor fit, meaning a large portion of the variation in the outcome is due to factors not considered in the model. Conversely, a low Störungsvarianz suggests that the independent variables are effectively explaining the variation in the dependent variable, leading to a better model fit. Estimating and understanding the Störungsvarianz is crucial for assessing the reliability and predictive power of a statistical model. It influences the standard errors of the regression coefficients, which in turn affect hypothesis testing and confidence interval calculations. Minimizing Störungsvarianz often involves including more relevant predictor variables, improving the measurement of existing variables, or using a more appropriate functional form for the relationship between variables.