PP Energies used regression analysis to predict the annual cost of indirect materials.The results were as follows: The coefficient of determination is ________.
A)0.7832
B)2.1876
C)11.75
D)9,960

Question

PP Energies used regression analysis to predict the annual cost of indirect materials.The results were as follows:  The coefficient of determination is ________.
A)0.7832 
B)2.1876 
C)11.75 
D)9,960

Quizplus · Accepted Answer

The coefficient of determination, also known as R-squared, is a measure of how well the regression model fits the data. It ranges from 0 to 1, with 1 indicating a perfect fit. The given coefficient of determination value is 0.7832, which means that the regression model explains 78.32% of the variation in the annual cost of indirect materials. Therefore, the best choice is A.

PP Energies Used Regression Analysis to Predict the Annual Cost