When evaluating a multiple regression model, for example when we regress dependent variable Y on two...
When evaluating a multiple regression model, for example when we regress dependent variable Y on two independent variables X1 and X2, a commonly used goodness of fit measure is:
A. Correlation between Y and X1
B. Correlation between Y and X2
C. Correlation between X1 and X2
D. Adjusted-R2
E. None of the above
Homework Answers
The right answer is D, as Adjusted R square is adjusted for the degrees of freedom and explains the variation in dependent variable explained by the independent variables. On the other hand, correlation just measures how the two variables are related to each other and it is not among the good measure of goodness of fit.
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