Coefficient of Determination (R^2)

Question 1

What is R^2 a measure of?

Answer 1

How well the trend line fits the points on the graph

Question 2

What is the range of values for R^2?

Answer 2

0 to 1 - The better the fit, the more likely that a trend exists

Question 3

What does a high R^2 value indicate?

Answer 3

The closer the value is to 1, the higher the correlation