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Definition: R²
Category: Memobust Glossary
Coefficient of determination. It provides a measure of how well observed outcomes are replicated by the model, as the proportion of total variation of outcomes explained by the model. https://ec.europa.eu/eurostat/cros/content/memobust-glossary-pdf-file_en
Source:
Eurostat, "Memobust Glossary" (part of the Memobust Handbook on Methodology of Modern Business Statistics), ESSnet "Memobust", March 2014
Eurostat, "Memobust Glossary" (part of the Memobust Handbook on Methodology of Modern Business Statistics), ESSnet "Memobust", March 2014
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