Using the same model below, thoroughly assess the model's diagnostics. Identify all relevant assessment dimensions, briefly outline their purpose and importance, and provide an assessment of your model in terms of the identified diagnostic measures. Submit your response in a 2- to 3-page Microsoft Word document
The following criteria must be followed
Used the multiple regression model created and provided a thorough assessment of your model's diagnostics. 10 pts
Identified all relevant assessment dimensions. 10 pts
Briefly outlined the purpose and importance of the assessment dimensions. 10pts
Provided an assessment of your model in terms of the identified diagnostic measures. 10pts
Presented a structured document free of spelling and grammatical errors. 10pts
Demonstrated an understanding of the purpose of each diagnostic. 10pts
Adjusted R Square
Although, we've reduced it to a 4-variable model, the R-square value didn't detorie much!! So we can say this is a good model. In terms of goodness-of-git too it is a good model as the MSE is very less.
The R^2 is only .45 though, which means, this model explains only 45% variability in the data.