Final answer:
The measures that summarize how well the sample regression equation fits the data are the slope of the regression equation, the y-intercept of the regression equation, the correlation coefficient, and the coefficient of determination.
Step-by-step explanation:
The measures that summarize how well the sample regression equation fits the data include:
- The slope of the regression equation: The slope represents the change in the dependent variable (y) for every one unit change in the independent variable (x). It tells us the direction and steepness of the relationship.
- The y-intercept of the regression equation: The y-intercept represents the value of the dependent variable when the independent variable is zero. It gives us the starting point of the regression line.
- The correlation coefficient, r: The correlation coefficient measures the strength and direction of the linear relationship between the independent and dependent variables. It ranges from -1 to 1, with a value closer to -1 or 1 indicating a stronger relationship.
- The coefficient of determination, r-squared (r²): The coefficient of determination represents the proportion of the variability in the dependent variable that is explained by the regression equation. It ranges from 0 to 1, with a value closer to 1 indicating a better fit of the regression equation to the data.