Qmb6358 certification - Study guides, Class notes & Summaries

Goodness-of-Fit Measures We will introduce three measures to judge how well the sample regression fits the data. 1. The Standard Error of the Residual (Estimate). 2. The Coefficient of Determination (R^2) 3. The Adjusted R^2 Mean Squared Error To compute the standard error of the residual, we first compute the mean squared error. - we first compute the error sum of squares - dividing SSE by the appropriate degrees of freedom, n-k-1, yields the mean squared error, MSE

Goodness-of-Fit Measures We will introduce three measures to judge how well the sample regression fits the data. 1. The Standard Error of the Residual (Estimate). 2. The Coefficient of Determination (R^2) 3. The Adjusted R^2 Mean Squared Error To compute the standard error of the residual, we first compute the mean squared error. - we first compute the error sum of squares - dividing SSE by the appropriate degrees of freedom, n-k-1, yields the mean squared error, MSE