Video 3: Model Fit

This video discusses how to interpret the R-squared and the Regression Standard Error to assess model fit: the model's ability to explain the variance in the dependent variable.

TABLE OF CONTENTS:
00:00 Introduction
00:07 Some things we just can’t explain
01:24 Model Fit
03:08 R-Squared ( R2 )
03:54 R2 Examples
04:52 Plot of Consumption vs. Income Model
05:21 R2 in Regression Result
06:06 Regression Standard Error (RSE)
06:52 R2 and Standard Error Examples
07:35 S.E. in Regression Result
07:55 Summary

[radrad]

Learned more in 8 min than the whole semester. Amazing! Thank you

[prasitrattanapiseth]

You are the best teacher ever in explaining this technique.I feel in debt with you really. Big thank to you.

[bzfjfkm]

This is the ever-best explanation of R2 on YT. The Luckiest students taught by you are always in my mind!!!

[atulprajapati]

Now, i can say i got the best instructor. I never found such a attractive instructor you are an amazing person ❤ keep helping others 🙌

[pds]

Best stats instructor I've ever listened to!

[tllittle]

You are a gentleman and a scholar. Thank you.

[tibbyzeleke]

Thank you so much for your calm explanation. I feel like i owe you.

[SEVENCRYPTOCHANNEL]

Trying to learn this for the past 1 year.. thank you

[sophiafiorini]

This video series means so much. Thank you.

[kidusdesalegn]

thank you very much for your tutorials ....very important and easy to understand

[yasithaweer]

This is just awesome
Really grateful to you

[chefmeister]

Thank you for your awesome video series about regression!!!
It helps a lot :)

[sanyamsharma]

Seriously, where were you sir..Hats off.

[hasanalicankaan]

thanks for this informations :) from turkey

[ranasartawy]

very helpful, thank you fro this video

[kfp]

what software do you use to make this tutorial video?
I really enjoy your videos. thank you

[riposetv]

thanks so much, excellent work, do you have videos on how to use gretl also

[junglebit]

very good video, keep them coming, educate

[saideljebri]

thank you very much for useful information

[Enricarenee]

So a good model fit would have a high R2 and low RSE?