What does an \( R^2 \) value of 0.8 mean?
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An \( R^2 \) value of 0.8 means that 80% of the variability in the dependent variable is explained by the independent variables.
An \( R^2 \) value of 0.8 means that 80% of the variability in the dependent variable is explained by the independent variables.
An \( R^2 \) value of **0.8** means that **80% of the variation** in the dependent variable can be explained by the independent variable(s) in the model. In simple terms, this indicates a strong relationship, suggesting that the model does a good job of predicting or explaining the outcomes based on the inputs. The remaining **20%** of the variation is due to other factors not included in the model or random variation.