Question: 3. In this chapter, we discussed three measures for goodness of fit of the leastsquares line for given data. These measures were standard error of

3. In this chapter, we discussed three measures for “goodness of fit” of the leastsquares line for given data. These measures were standard error of estimate, correlation coefficient, and coefficient of determination. Discuss the ways in which these measurements are different and the ways in which they are similar to each other. Be sure to include a discussion of explained variation, unexplained variation, and total variation in your answer. Draw a sketch and include appropriate formulas.

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