Coefficient of Determination: A Statistical Measure

Understanding R²

The coefficient of determination, also known as R², is a statistical measure that quantifies the strength of the relationship between a statistical model and the data it represents. It indicates how well the model explains the variability in the data and is a key indicator of the model's ability to predict outcomes.

Applications of R²

R² is widely used in regression analysis and other statistical techniques to assess the quality of the model. A higher R² value indicates a better fit between the model and the data, suggesting that the model can accurately predict the outcome. Conversely, a lower R² value implies that the model is relatively weak in predicting the data.