The larger the R² value obtained in the linear regression output, the more accurate your forecasts will be.

Question

Quizplus · Accepted Answer

R² is the coefficient of determination (R squared) in linear regression analysis, which represents the proportion of the variation in the dependent variable that is explained by the independent variable(s). A higher R squared value indicates a better fit of the model and therefore more accurate forecasts.

The Larger the R2 Value Obtained in the Linear Regression

The Larger the R² Value Obtained in the Linear Regression