170. R²
Proportion of variance explained by the model
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1: model explains all the variance in the dependent variable
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0: model explains none of the variance in the dependent variable
Example
Step 1: Fit the Regression Model
Step 2: Compute Total Sum of Squares (SST)
Step 3: Compute Regression Sum of Squares (SSR)
Step 4: Compute Residual Sum of Squares (SSE)
Step 5: Calculate
170.0.1. Adj R-squared
Adjusts the value based on the number of predictors (penalty for adding non-informative variables)