What is a Coefficient of Determination?
The coefficient of determination is a mathematical calculation of the square root of a correlation coefficient. The correlation coefficient is a calculation of the accuracy of a model. These terms are used in statistical analysis to explain fairly logical calculations. In statistics, an analyst’s job is to look at the data collected from a specific scenario or event and create a mathematical model that explains the data. In order to create this model, there are certain facts that need to be taken into consideration. There is a possibility of error in every calculation and collection of data. Since this is consistent, the rate of error must be incorporated into the model. By accounting for this error, it ceases to be relevant to determining if the proposed model provides a solid explanation for the data. The actual coefficient of determination calculation is R2 = Sum of the squared errors Sum of the squared errors + Regression sum of squares The coefficient of determination is a calcula
