Question: In a simple linear regression forecast, the R2 value is a measure of the overall goodness of fit of the model and describes How wide
In a simple linear regression forecast, the R2 value is a measure of the overall goodness of fit of the model and describes How wide the forecast prediction interval should be. The percent of variation in the systematic component that is due to the Level component. x The percent of variation in the demand explained by trend over time. The percent of the variation in the systematic component that is due to seasonality. The correlation between this month's demand and last month's demand. In a simple linear regression forecast, the R2 value is a measure of the overall goodness of fit of the model and describes How wide the forecast prediction interval should be. The percent of variation in the systematic component that is due to the Level component. x The percent of variation in the demand explained by trend over time. The percent of the variation in the systematic component that is due to seasonality. The correlation between this month's demand and last month's demand
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