In the context of causal forecasting models with multiple regression, an R-squared (R2) value of 0.70 means that 30 percent of the variation in the dependent variable is explained by the independent variable.

Question

Quizplus · Accepted Answer

An R-squared (R2) value of 0.70 means that 70% of the variation in the dependent variable is explained by the independent variable, not 30%. Therefore, the statement is false.

In the Context of Causal Forecasting Models with Multiple Regression