¥3dRegAna:
Other statistics
HHow
well does model fit data?
åR2 (coefficient of multiple determination)
is the proportion of the variance in the data accounted for by the model 0 ² R2 ² 1.
åi.e.,
if R2 = 0.26 then
26% of the dataÕs variation about their mean is accounted for by the model. So this might indicate the
model, even if significant, might not be that useful (depends on what
use you have in mind)
íHaving
said that, you should consider R2 relative to the maximum it can achieve given the pure error which cannot be modeled. [cf.
Draper & Smith, chapter 2].
HAre individual parameters bk significant?
åt-statistic is calculated for each parameter
åhelps identify parameters that can be
discarded to simplify the model
HR2 and t-statistic are computed for
full (not reduced) model