The R² statistic (also referred to as the coefficient of determination) ranges in value from 0 to 1 (0 $\le$ R² $\le$1) and indicates the proportion of the total variation in the dependent variable Y around its mean (average) that is accounted for by the independent variable(s) in the estimated regression function.

Question

Quizplus · Accepted Answer

The statement accurately describes the R² statistic, also known as the coefficient of determination. It measures the proportion of the total variation in the dependent variable Y that can be explained by the independent variable(s) in the regression model, and it ranges from 0 to 1.

​The R2 Statistic (Also Referred to as the Coefficient of Determination)

The R² Statistic (Also Referred to as the Coefficient of Determination)