How to find r-squared in excel scatter plot

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What is R-Squared?

R-Squared, also called the coefficient of determination, shows how well the data fit a regression model.

It tells us what percentage of the variation in the dependent variable (what you’re trying to predict) is explained by the independent variable(s) (the predictors).

Why is R-Squared Important?

R-Squared values range from 0 to 1:

• 0 means the model explains none of the variability.
• 1 means the model explains all the variability.

A higher R Squared indicates a better fit, but it’s not always perfect.

Excel rsq vs correl

Sometimes, a high R Squared can mislead if the model is overfitting the data.

How to Interpret R-Squared

• High R-Squared: Your model fits the data well. For example, an R-Squared of 0.85 means 85% of the variance in your data is explained by the model.
• Low R-Squared: Your model doesn’t fit well.

  However, don’t rely solely on R Squared. Context and other diagnostic measures are crucial.

R-Squared Formula

Here’s

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