UNDERSTANDING COEFFICIENT OF DETERMINATION IN STATISTICAL ANALYSIS
The Coefficient of Determination is a statistical measure used to determine the strength of the relationship between two variables.
It is represented by the symbol R2 and ranges from 0 to 1.
A value of 0 indicates no relationship between the variables, while a value of 1 indicates a perfect relationship.
The Coefficient of Determination is calculated by squaring the correlation coefficient between the two variables.
It is commonly used in regression analysis to determine how well the regression line fits the data.
A high value of R² indicates that the regression line is a good fit for the data, while a low value indicates that the line does not fit well.
The Coefficient of Determination is an important tool in statistical analysis as it helps to determine the strength of the relationship between two variables and the accuracy of the regression line.