A measure of goodness of fit for the estimated regression equation is the
A) multiple coefficient of determination.
B) multicollinearity.
C) mean square due to regression.
D) studentized residual.

Question

Quizplus · Accepted Answer

The multiple coefficient of determination, also known as R-squared, is a measure of how well the estimated regression equation fits the data. It measures the proportion of the variation in the dependent variable that is explained by the independent variables in the model. A higher value of R-squared indicates a better fit. Therefore, it is the best choice for measuring the goodness of fit of the estimated regression equation.

A Measure of Goodness of Fit for the Estimated Regression