Using your favorite statistics software package, you generate a scatter plot which displays a linear form. You find a regression equation and the standard deviation for both variables. The standard deviation for x is 1.93, and the standard deviation for y is 5.04. The regression equation is reported as

y=6 +1.64xy=-6 +1.64x

What fraction of the variation in y can be explained by the variation in the values of x? (Enter your answer as a decimal between 0 and 1.)