Question

if the sum of squared raw residuals is 575.5 and the sum of the squared total residuals is 1469.6, what is r-squared? round to 2 decimal places.

Answer 1

The value of r-squared is 0.61.

Step-by-step explanation:

The coefficient of determination, also known as r-squared (r²), measures the proportion of variation in the dependent variable that can be explained by the independent variable(s) in a regression model.

To calculate r-squared, you can use the formula 1 - (sum of squared residuals / sum of squared total residuals).

In this case, the sum of squared raw residuals is 575.5 and the sum of squared total residuals is 1469.6.

Therefore, r-squared = 1 - (575.5 / 1469.6)

= 1 - 0.391979

= 0.608021.

Rounded to two decimal places, the value of r-squared is 0.61.