A multiple regression model is assessed to be good if the error sum of squares SSE and the standard error of estimate sε are both small,the coefficient of determination R² is close to 1,and the value of the test statistic F is large.

Question

Quizplus · Accepted Answer

A smaller SSE and sε indicate that the model has better accuracy in predicting the outcome variable. A larger value of R-square indicates that a larger proportion of the variance in the outcome variable is explained by the predictor variables. A larger value of F indicates that the overall model is significant and the predictor variables collectively contribute significantly to predicting the outcome variable. Therefore, all the criteria mentioned in the statement are indicators of a good multiple regression model.

A Multiple Regression Model Is Assessed to Be Good If