You are estimating the cost of optical sensors based on the RADIUS of the sensors. You decide to calculate the coefficient of determination (R2) as part of determining the goodness of fit of an equation. Using the preliminary calculations below, calculate the R2 and determine its meaning.
Given:
The Sum of(Yi - Ybar)squared = 147172
The Sum of(Yhat - Ybar)squared =11008
The Sum of (Y - Yhat)squared = 136164
Select the correct statement:
92.52% of the variation in the radius is being explained by the cost.
7.48% of the variation in the cost is being explained by the radius.
92.52% of the variation in the cost is being explained by the radius.
7.48% of the variation in the radius is being explained by the cost.