A coworker of yours is very pleased having just found an r2, Basic Statistics

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A coworker of yours is very pleased having just found an r2

Question: A coworker of yours is very pleased, having just found an R2 value of 100%, indicating that the regression equation has explained all of the variability in Y ("profits") based on the X variables "revenues" and "costs." You then amaze this person by correctly guessing the values of the regression coefficients.

a. Explain why the result (R2¼100%) is reasonable- trivial; even-in this case.

b. What are the values of the regression coefficients?

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