Slide 7-3Assessing Model Fit

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Module 2 - Simple Linear Regression Lecture 2.3 - Assessing Regression Model Fit
Assessing the Fit of the Simple Linear Regression Model The Sums of Squares • Sum of squares due to error: The value of SSE is a measure of the error in using the estimated regression equation to predict the values of the dependent variable in the sample 𝑆𝑆𝑆𝑆𝑆𝑆 = � 𝑖𝑖=1 𝑛𝑛 ( 𝑦𝑦 𝑖𝑖 − � 𝑦𝑦 𝑖𝑖 ) 2 2 𝑆𝑆𝑆𝑆𝑆𝑆 = ∑ 𝑖𝑖=1 𝑛𝑛 𝑒𝑒 2 = 8.0288
Estimation without Regression 3 Without a regression model, our best guess would likely be the average value for y.
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