In your own words, provide a substantive explanation of what R2 represents.
Determine the most-effective budgeting approach for a hospital, indicating how this approach can lead to effective financial management of the facility.
August 4, 2017Briefly describe the 5 pieces of project management.
August 4, 2017Coefficient of Determination
The discussion assignment provides a forum for discussing relevant topics for this week based on the course competencies covered.
To support your work, use your course and text readings and also use the South University Online Library. As in all assignments, cite your sources in your work and provide references for the citations in APA format. Make sure all references are cited in APA format. References should be current at least within the last 5 years. Remember that references should be used to support your peer responses.
Coefficient of Determination
The purpose of this assignment is to learn about the coefficient of determination (R2) statistic as a measure of the fit of a regression line.
R2 is a statistical measure of how close the data are to a fitted regression line. In general, the higher the R2, the better the model fits your data. However, while R2 measures goodness of fit, it does not indicate whether a regression model is adequate. You can have a low R2 value for a good model or a high R2 value for a model that does not fit the data.
Using the South University Online Library, the Internet, and your text readings, research about R2.
On the basis of your research and your involvement in public health functions, respond to the following:
- Find and state a definition of R2 that you feel is easy to understand.
- In your own words, provide a substantive explanation of what R2 represents.
- Explain what the statistic R2 is used for in regression analysis.
- Explain how R2 is affected by sample size.
- Describe whether a large R2 value means that a regression is significant. Provide reasons for your answer.
- Describe how you would substantively interpret R2.
