Question

what does this mean Correlation Coefficient: r^2= 0.05

Answer 1

it's to do with stats: coefficient of determination, (R^2), indicates how well data points fit a statistical model – like a line or curve.

Answer 2

the coefficient of determination ranges from 0 to 1

Answer 3

please can you interpret this result
Variable Coefficient Std Error F-test P-Value
AGE -0.060 0.011 29.9577 0.000000
INC (2/1) 0.773 0.640 1.4593 0.227439
INC (3/1) 1.484 0.596 6.1872 0.013097
INC (4/1) 0.694 0.563 1.5210 0.217873
INC (5/1) 0.826 0.577 2.0495 0.152699
CONSTANT 5.129 0.667 59.2113 0.000000



Correlation Coefficient: r^2= 0.05



Source df Sum of Squares Mean Square F-statistic
Regression 5 499.493 99.899 8.126
Residuals 707 8691.828 12.294
Total 712 9191.321

Answer 4

absolutely not dude, i have only a vague knowledge of stats, sorry, but @jim_thompson5910 and @robtobey are 2 of the smartest people on here, they may be able to help you? Guys, do u have a sec?