The Coefficient of Determination, commonly known as R-squared (R²), is a crucial metric in statistics that indicates the proportion of the variance in the dependent variable that is predictable from the independent variable(s). Use our free online R-squared calculator to quickly determine how well your regression model explains the variability of your data by simply entering your actual and predicted values.
Formula:
R2 = 1 - (SSres / SStot)
Where:
SSres = Σ(yi - ŷi)2 (Sum of Squares of Residuals)
SStot = Σ(yi - ¯y)2 (Total Sum of Squares)
yi = Actual observed value
ŷi = Predicted value from the regression line
¯y = Mean of the actual observed values