The coefficient of determination is used as a measure of practical significance.

Question

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The coefficient of determination (R-squared) is a measure of how well a regression model fits the data. It is calculated as the square of the correlation coefficient between the predicted values and the observed values. R-squared values range from 0 to 1, with higher values indicating a better fit. R-squared is often used as a measure of practical significance because it indicates how much of the variation in the dependent variable is explained by the independent variables.

The Coefficient of Determination Is Used as a Measure of Practical