Asked by Jackie Rojas on Jun 05, 2024
Verified
The regression equation 
= 3,698 + 2,538X gives an R2 value of 0.2645.This means that ________.
A) X and Y have a very high level of correlation
B) the percentage of variation in Y that is attributed to random factors is 26.45%
C) 26.45% of the variation in Y can be explained by X
D) a one-percent change in Y will lead to a 26.45% change in X
RSquare Value
A statistical measure that represents the proportion of the variance for a dependent variable that's explained by an independent variable(s) in a regression model.
Regression Equation
A mathematical formula used to predict a variable based on its relationship with one or more other variables.
Variation
Differences or changes in the condition, amount, or level of something, typically within a set or series of items.
- Understand the concept of R-Squared in explaining the variance of the dependent variable.
Verified Answer
BC
Brittney CollinsJun 11, 2024
Final Answer :
C
Explanation :
An R2 value of 0.2645 means that 26.45% of the variation in Y can be explained by X. Therefore, choice C is the best option. Option A is incorrect because the level of correlation is not provided. Option B is incorrect because it refers to random factors, which are not related to the given regression equation. Option D is incorrect because it implies a causal relationship between X and Y, which is not provided by the regression equation alone.
Learning Objectives
- Understand the concept of R-Squared in explaining the variance of the dependent variable.