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RSQ

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Formula Generator - RSQ function

The RSQ function calculates the square of the Pearson product-moment correlation coefficient. This coefficient measures the strength and direction of the linear relationship between two variables. The RSQ function is commonly used in statistical analysis to assess the goodness of fit for regression models and evaluate the predictive power of forecasting models.

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To obtain the RSQ formula from an AI chatbot, you could ask: "What is the formula for calculating the coefficient of determination (RSQ) in Excel?"

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Step 1: Describe Your Formula

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Step 2: Copy Syntax

RSQ formula syntax.

The RSQ function in Excel calculates the square of the Pearson correlation coefficient between two sets of data. The syntax for the RSQ function is: RSQ(array1, array2) where: - array1 and array2 are the two sets of data that you want to calculate the correlation for. The RSQ function returns a value between 0 and 1, where 0 indicates no correlation and 1 indicates a perfect correlation. This function is useful for determining the strength of the relationship between two variables in a dataset.

Use Cases & Examples In these use cases, we use the RSQ function to calculate the square of the correlation coefficient between two sets of values. The RSQ function is commonly used in statistics and data analysis to measure the strength and direction of the relationship between two variables.

Calculating the R-squared value for a linear regression model

Description

In this use case, we use the RSQ function to calculate the R-squared value for a linear regression model. The R-squared value represents the proportion of the variance in the dependent variable that can be explained by the independent variable(s).

Result

RSQ(data_y, data_x)

Evaluating the goodness of fit for a polynomial regression model

Description

In this use case, we use the RSQ function to evaluate the goodness of fit for a polynomial regression model. The RSQ function calculates the square of the Pearson product-moment correlation coefficient, which measures the strength and direction of the linear relationship between two variables.

Result

RSQ(data_y, data_x)

Assessing the predictive power of a time series forecasting model

Description

In this use case, we use the RSQ function to assess the predictive power of a time series forecasting model. The RSQ function calculates the square of the Pearson product-moment correlation coefficient, which indicates how well the model's predictions align with the actual values over time.

Result

RSQ(data_y, data_x)

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FAQ

What does the RSQ function do?

How do I use the RSQ function?

What is the range of possible values for the RSQ function?

What if the RSQ function returns an error?

Can I use the RSQ function with non-adjacent data ranges?