____ is a measure of the percent of variation in the dependent variable (such as total cost) that is explained by variations in the independent variable (such as total shipments) when the least-squares estimation equation is used.
A)The constant
B)The standard error of Y estimate
C)The coefficient of determination
D)The standard error of X estimate

Question

Quizplus · Accepted Answer

The coefficient of determination, also known as R-squared, is a measure of how well the regression line fits the data. It represents the proportion of variation in the dependent variable that can be explained by the independent variable. A coefficient of determination of 1 indicates a perfect fit of the regression line to the data, while a coefficient of determination of 0 indicates that the regression line does not explain any of the variation in the dependent variable.

____ Is a Measure of the Percent of Variation in the Dependent