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QUANTITATIVE DECISION MAKING 2
1).
SSR = 300
The standard error of estimate is 300 and this shows the average distance which is between the
observed values from the final regression line[ CITATION Bar12 \l 1033 ]. It shows error in
2).
R2 = 1 – (100/400)
QUANTITATIVE DECISION MAKING 3
R2 = 0.75 or 75%
The R square is 75% and this means that the percentage variation or percentage change in the
about the proportion of the variance which is predictable from the independent variable.
3).
R = SQRT (0.75)
R = 0.866 or 86.6%
The correlation coefficient shows us the relationship between two values and it has a value of
between -1 and +1[ CITATION Bod09 \l 1033 ]. The above correlation of 0.866 shows that the
relationship between X and Y is on the stronger side and this relationship is positive.
References
QUANTITATIVE DECISION MAKING 4
Barde. (2012). "What to use to express the variability of data: Standard deviation or standard
Boddy, R. (2009). Statistical methods in practice: for scientists and technologists. Chichester,
U.K.: Wiley.