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What is the coefficient of determination?

Category: Business Statistics Paper Type: Online Exam | Quiz | Test Reference: N/A Words: 220

Answer) According to the book, the coefficient of determination (r2) is the square of the relationship coefficient esteem (r); it is likely the most helpful estimation in the connection examination. It gives a reasonable, straightforward estimation of the logical intensity of a connection coefficient. What's more, r2 can help demonstrate how intently the figured r portrays the connection between two factors. In statistics, the coefficient of determination (indicated by R2) is a key yield of regression examination. It is explicated as the extent of the difference in the dependent variable that is prospective from the independent factor.

Response to Above Answer

You have described coefficient of determination very precisely. The answers shows each and every aspect of coefficient of determination. I agree with you at the point that the coefficient of determination is most helpful estimation in the connection examination as it gives a reasonable, straightforward estimation of the logical intensity of a connection coefficient. I agree with your answer that r2 can help demonstrate how intently the figured r portrays the connection between two factors because this is exactly how it works. I agree with your answer that coefficient of determination is explicated as the extent of the difference in the dependent variable.

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