Calculating R-squared (LSE GV101)
We are often told what the R-squared number is when given a Regression Table and taught
how to apply the R-squared number to ascertain the accuracy of a given regression line
Whenever we open a social science textbook, we are told that an R-squared value close to 1 is a
good indicator of our regression model; meanwhile, an R-squared value close to 0 implies our
model is not very useful
But what exactly is R-squared?
We are often told what the R-squared number is when given a Regression Table and taught
how to apply the R-squared number to ascertain the accuracy of a given regression line
Whenever we open a social science textbook, we are told that an R-squared value close to 1 is a
good indicator of our regression model; meanwhile, an R-squared value close to 0 implies our
model is not very useful
But what exactly is R-squared?
