r^2 is a statistical measure of how close the data are to the fitted regression line. It is also known as the coefficient of determination, or the coefficient of multiple determination for multiple regression.
The definition of r^2 is fairly straight-forward; it is the percentage of the response variable variation that is explained by a linear model
r^2 = Explained variation / Total variation
=50/100
=0.5
r^2 is always between 0 and 100%:
In general, the higher the r^2 the better the model fits your data.
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