A scientific study on graphite density gives the following data table.

Distance from center of vein Density

17 36

21 25

22 21

27 12

32 6

Using technology, it was determined that the total sum of squares (SST) was 542.07, the sum of squares regression (SSR) was 521.02, and the sum of squares due to error (SSE) was 21.044. Calculate R2 and determine its meaning. Round your answer to four decimal places.

Select the correct answer below:

R2=0.0388

Therefore, 3.88% of the variation in the observed y-values can be explained by the estimated regression equation.

R2=0.0404

Therefore, 4.04% of the variation in the observed y-values can be explained by the estimated regression equation.

R2=0.9612

Therefore, 96.12% of the variation in the observed y-values can be explained by the estimated regression equation.

R2=1.0404

Therefore, 4.04% of the variation in the observed y-values can be explained by the estimated regression