Problem Description
This problem will test the implementation of the R-squared (R²) coefficient, a fundamental statistical measure used to evaluate the goodness of fit in regression models.
Importance
The R-squared coefficient (coefficient of determination) measures how well a regression model fits the observed data. It represents the proportion of variance in the dependent variable that is predictable from the independent variable(s).
Mathematical Definition
R² is calculated as:
R² = 1 - (SSR/SST)
Where,
- SSR = Sum of Squared Residuals
- SST = Total Sum of Squares
Reference:
https://www.ncl.ac.uk/webtemplate/ask-assets/external/maths-resources/statistics/regression-and-correlation/coefficient-of-determination-r-squared.html