ECOR 1010 Lecture Notes - Lecture 15: Lincoln Near-Earth Asteroid Research, Explained Variation, 1 Bc

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For y=mx + b, the least-squares" slope and intercept are given by: Line of best fit y i = observed y i (with ^ on top) = calculated. Also note that: residuals = observed values - calculated values. The residuals are equally (normally) distributed about 0, which is what we want to see. Often uses r 2 to estimate the quality of a fit. The coefficient of determination is the proportion of the variation of the observed y data that can be explained by the model. If the coefficient is close to 1 : Means that the assumed function is a good fit to the observed data. If the coefficient is close to 0 : Means that the assumed function is a bad fit to the observed data. Relationship of the coefficient of determination" to explained variation. Only part of the variation can be explained by regression. The total variation is the (explained + unexplained) variation.

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