The following estimated regression equation based on 30 observations was presented. ŷ = 17.6 + 3.8x1 − 2.3x2 + 7.6x3 + 2.7x4 The values of SST and SSR are 1,803 and 1,756, respectively. (a) Compute R2. (Round your answer to three decimal places.) R2 =
(b) Compute Ra2. (Round your answer to three decimal places.) Ra2 =
(c) Comment on the goodness of fit. (For purposes of this exercise, consider a proportion large if it is at least 0.55.)
The estimated regression equation provided a good fit as a large proportion of the variability in y has been explained by the estimated regression equation.
The estimated regression equation did not provide a good fit as a small proportion of the variability in y has been explained by the estimated regression equation.
The estimated regression equation provided a good fit as a small proportion of the variability in y has been explained by the estimated regression equation.
The estimated regression equation did not provide a good fit as a large proportion of the variability in y has been explained by the estimated regression equation.