CODEWITHSUNDEEP
pythonlinear-regressionstatsmodelsequation
Muzammil Madki
Muzammil Madki

Reputation: 1

Impact of r squared value on a linear regression equation output

I have a linear regression equation which goes something like this

y = B0 + B1x1 + B2x2 + B3x3 + ....Bnxn

Where: y is my dependent variable and xn are my independent variables

I am generating this equation using statsmodel library in python.

I also get r squared as model's output.

What I need to do next is calculate min and max values of y based on min and max values of all my independent variables.

I do know that, higher the r squared value, higher is the accuracy of regression.

Lets say y = 10 if I put max values of x1 till xn and r2 = 70%

In this case, will y = 10 will be justified or do we say y = 10 but with +/- 30% variation since r2 = 70%

I am not exactly sure how we use the regression equation after considering the impact of r2.

Upvotes: 0

Views: 44

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