What does R-squared indicate in a linear regression model?

The strength of the relationship between the independent and dependent variables
The proportion of variance in the dependent variable that can be explained by the independent variable(s)
The average error of the predictions
The number of predictors in the model

What does R-squared indicate in a linear regression model?

Step 1: Understand that in a linear regression model, we are trying to predict a dependent variable (the outcome we are interested in) using one or more independent variables (the predictors).
Step 2: R-squared is a statistical measure that tells us how well our independent variable(s) explain the variation in the dependent variable.
Step 3: R-squared values range from 0 to 1. A value of 0 means that the independent variable(s) do not explain any of the variation in the dependent variable, while a value of 1 means that they explain all the variation.
Step 4: For example, if R-squared is 0.75, it means that 75% of the variation in the dependent variable can be explained by the independent variable(s) in the model.

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