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WHAT IS THE CO-EFFICIENT OF DETERMINATION? Coefficient of determination is also called R-SQUARED (r²). it is used to explain the relationship between independent variable and dependent variables. Business investors use coefficient of determination to conduct trend analysis.  Coefficient of determination is a further statistical treatment of Regression analysis. In regression analysis there are three types of variation namely; total variation explained variation unexplained variation the purpose of regression analysis is to try to allocate as much of the total variation in Y in the variation of X variable. This variation should there be as high as possible. NOW THEREFORE, co-efficient of variation expresses the proportion of varience in Y  determined in X. We can now define coefficient of determination as the ratio of explained variation to the total variation . It is used to measure the strength of the linear relationship.The stronger the linear relation the high the value of ...

  REGRESSION ANALYSIS LECTURE NOTES   •     Regression analysis refers to statistical technique for estimating the relationship among variables. •     Regression analysis is concerned with estimating the value of one variable when the value of the other variable is known. •   Regression- is a measure of the average relationship between two or more variables in terms of the original units of data. REGRESSION LINES •          Regression lines refer to graphical devices that describe the average relationship between two variables. •          There are two regression lines namely: - R egression line of Y on X -Regression line of X on Y. REGRESSION EQUATIONS •            Regression equation refers to algebraic expressions of regression lines. •          ...

  THE MEANING OF ECONOMICS What is Economics? The infamous word " Economics " has largely been used to describe situation where money is limited and wants are many. Some of its users refer to it as the quality of being able to use the available resources to get the best from the situation. There is an economic aspect to almost any topic we care to mention – education, employment, housing, transport, defence etc. Economics is a comprehensive theory of how the society works. But as such, it is difficult to define. The great classical economist Alfred Marshal defined economics as the " Study of man in the ordinary business of life ". This, however, this definition is necessary but not sufficient. This is because any definition should take account of the guiding idea in economics which is scarcity. American economist Paul Samuelson thus defined it as: " The study of how people and society choose to employ scarce resources that could have alternative uses ...