STATISTICAL TECHNIQUES AND TOOLS
CORRELATION COEFFICIENT COEFFICIENT OF DETERMINATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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residual
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coefficient of correlation
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coefficient of determination
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standard error of the estimate
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Detailed explanation-1: -The coefficient of determination (R²) is a number between 0 and 1 that measures how well a statistical model predicts an outcome. You can interpret the R² as the proportion of variation in the dependent variable that is predicted by the statistical model.
Detailed explanation-2: -R-squared evaluates the scatter of the data points around the fitted regression line. It is also called the coefficient of determination, or the coefficient of multiple determination for multiple regression.
Detailed explanation-3: -To find the coefficient of determination, just square the correlation coefficient: r2 = 0.81; Convert the result to a percentage: 0.81 = 81%; and. You may now conclude that the values of X account for 81% of variability observed in Y.